Canoe Financial LP Lowers Stock Holdings in Rogers Communication, Inc. $RCI

Canoe Financial LP reduced its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,138,837 shares of the Wireless communications provider’s stock after selling 258,074 shares during the quarter. Canoe Financial LP’s holdings in Rogers Communication were worth $42,990,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Rogers Communication by 0.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,270,817 shares of the Wireless communications provider’s stock worth $67,352,000 after purchasing an additional 8,801 shares in the last quarter. MAI Capital Management grew its position in shares of Rogers Communication by 30.5% during the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 458 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Rogers Communication by 23.1% in the second quarter. American Century Companies Inc. now owns 100,941 shares of the Wireless communications provider’s stock worth $2,994,000 after purchasing an additional 18,936 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rogers Communication by 69.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,155 shares of the Wireless communications provider’s stock worth $212,000 after purchasing an additional 2,924 shares during the period. Finally, M&T Bank Corp raised its position in shares of Rogers Communication by 4.7% in the second quarter. M&T Bank Corp now owns 20,668 shares of the Wireless communications provider’s stock worth $613,000 after buying an additional 929 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Down 1.1%

RCI opened at $38.51 on Friday. The stock has a market cap of $20.81 billion, a PE ratio of 4.16, a P/E/G ratio of 5.09 and a beta of 0.74. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.14. The business’s fifty day simple moving average is $38.40 and its 200 day simple moving average is $37.52.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.10. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Rogers Communication’s dividend payout ratio (DPR) is currently 15.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Securities restated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Wall Street Zen cut Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Desjardins downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a report on Friday, December 26th. Finally, Barclays restated a “positive” rating and issued a $37.00 price objective on shares of Rogers Communication in a research report on Tuesday, January 27th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.