Investors Research Corp Cuts Stake in Rogers Communications Inc. (RCI)

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Investors Research Corp lowered its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.4% in the first quarter, HoldingsChannel reports. The firm owned 18,050 shares of the Wireless communications provider’s stock after selling 250 shares during the period. Investors Research Corp’s holdings in Rogers Communications were worth $971,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RCI. Lindbrook Capital LLC purchased a new stake in shares of Rogers Communications during the fourth quarter worth about $32,000. We Are One Seven LLC purchased a new stake in shares of Rogers Communications during the fourth quarter worth about $37,000. Enlightenment Research LLC acquired a new position in Rogers Communications during the fourth quarter worth about $46,000. Van ECK Associates Corp acquired a new position in Rogers Communications during the fourth quarter worth about $72,000. Finally, Quadrant Capital Group LLC boosted its position in Rogers Communications by 157.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,710 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 1,047 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. Echelon Wealth Partners restated a “buy” rating on shares of Rogers Communications in a research report on Friday, January 25th. Zacks Investment Research upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, February 8th. Scotiabank lowered shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Monday. Howard Weil lowered shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Monday. Finally, Scotia Howard Weill reiterated a “sector perform” rating on shares of Rogers Communications in a report on Monday. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $54.68.

Shares of RCI traded down $0.63 during mid-day trading on Tuesday, hitting $49.05. The company had a trading volume of 12,509 shares, compared to its average volume of 388,860. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.65 and a current ratio of 0.72. Rogers Communications Inc. has a 1-year low of $46.09 and a 1-year high of $55.93. The stock has a market capitalization of $26.44 billion, a PE ratio of 14.68, a P/E/G ratio of 2.93 and a beta of 0.71.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Rogers Communications had a net margin of 13.47% and a return on equity of 27.52%. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the company earned $0.93 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Rogers Communications Inc. will post 3.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th will be given a dividend of $0.3753 per share. The ex-dividend date is Friday, June 7th. This represents a $1.50 dividend on an annualized basis and a yield of 3.06%. Rogers Communications’s dividend payout ratio (DPR) is 45.37%.

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Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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