O Shaughnessy Asset Management LLC cut its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 30.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,437 shares of the Wireless communications provider’s stock after selling 79,338 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Rogers Communications were worth $9,438,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Chicago Capital LLC acquired a new stake in Rogers Communications during the 2nd quarter worth approximately $239,000. Cozad Asset Management Inc. acquired a new stake in Rogers Communications during the 2nd quarter worth approximately $267,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Rogers Communications during the 2nd quarter worth approximately $287,000. Schroder Investment Management Group acquired a new stake in Rogers Communications during the 2nd quarter worth approximately $337,000. Finally, San Francisco Sentry Investment Group CA acquired a new stake in Rogers Communications during the 2nd quarter worth approximately $403,000. Institutional investors and hedge funds own 46.12% of the company’s stock.
Rogers Communications stock opened at $51.13 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.72 and a quick ratio of 0.65. Rogers Communications Inc. has a 52-week low of $43.11 and a 52-week high of $54.95. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 3.15 and a beta of 0.72.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. Rogers Communications had a net margin of 13.34% and a return on equity of 29.37%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.91 billion. Analysts forecast that Rogers Communications Inc. will post 3.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 11th will be issued a dividend of $0.3695 per share. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 10th. This represents a $1.48 annualized dividend and a yield of 2.89%. Rogers Communications’s dividend payout ratio (DPR) is presently 54.24%.
Several research firms recently commented on RCI. Barclays cut their target price on shares of Rogers Communications from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, July 20th. Desjardins downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. ValuEngine upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Finally, Zacks Investment Research upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Wednesday, September 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.00.
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About Rogers Communications
Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.
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