Zimmer Partners LP cut its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 625,000 shares of the Wireless communications provider’s stock after selling 85,000 shares during the quarter. Zimmer Partners LP owned approximately 0.12% of Rogers Communications worth $31,847,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in Rogers Communications by 8.1% in the 4th quarter. Wells Fargo & Company MN now owns 15,248 shares of the Wireless communications provider’s stock worth $776,000 after buying an additional 1,141 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Rogers Communications by 107.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,308 shares of the Wireless communications provider’s stock worth $117,000 after buying an additional 1,198 shares in the last quarter. Financial Counselors Inc. grew its holdings in Rogers Communications by 1.2% in the 4th quarter. Financial Counselors Inc. now owns 132,361 shares of the Wireless communications provider’s stock worth $6,741,000 after buying an additional 1,584 shares in the last quarter. Bollard Group LLC grew its holdings in Rogers Communications by 3.6% in the 4th quarter. Bollard Group LLC now owns 49,752 shares of the Wireless communications provider’s stock worth $2,534,000 after buying an additional 1,742 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Rogers Communications by 26.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,380 shares of the Wireless communications provider’s stock worth $535,000 after buying an additional 2,178 shares in the last quarter. 47.79% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on RCI. National Bank Financial lowered Rogers Communications from an “outperform” rating to a “sector perform” rating in a report on Friday, January 26th. Zacks Investment Research lowered Rogers Communications from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Desjardins raised Rogers Communications from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Morgan Stanley increased their price objective on Rogers Communications from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Finally, Barclays reissued a “hold” rating and issued a $55.00 price objective on shares of Rogers Communications in a report on Friday, January 26th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $62.75.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 25th. The Wireless communications provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.63 billion. Rogers Communications had a return on equity of 30.65% and a net margin of 12.09%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. equities analysts predict that Rogers Communications Inc. will post 3.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 12th will be given a $0.3843 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $1.54 dividend on an annualized basis and a yield of 3.39%. Rogers Communications’s dividend payout ratio (DPR) is 60.94%.
About Rogers Communications
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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