Rogers Communications Inc. (NYSE:RCI) Stake Decreased by Addenda Capital Inc.

Addenda Capital Inc. lowered its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 47.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,696 shares of the Wireless communications provider's stock after selling 170,517 shares during the period. Addenda Capital Inc.'s holdings in Rogers Communications were worth $5,071,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RCI. Lindbrook Capital LLC increased its position in shares of Rogers Communications by 95.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock valued at $47,000 after buying an additional 744 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock valued at $55,000 after buying an additional 1,052 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Rogers Communications during the first quarter valued at approximately $79,000. Headlands Technologies LLC boosted its position in Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after acquiring an additional 3,888 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Rogers Communications by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock valued at $178,000 after acquiring an additional 930 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RCI shares. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Scotiabank downgraded shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $67.00.

Rogers Communications Stock Performance

RCI stock remained flat at $26.81 during midday trading on Thursday. The company's stock had a trading volume of 373,480 shares, compared to its average volume of 1,006,910. The firm has a market capitalization of $14.37 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.43 and a beta of 0.73. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The business has a 50-day moving average of $25.53 and a 200 day moving average of $28.52. Rogers Communications Inc. has a 52 week low of $23.18 and a 52 week high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. On average, sell-side analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be issued a $0.3611 dividend. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date is Monday, June 9th. This represents a $1.44 annualized dividend and a dividend yield of 5.39%. Rogers Communications's dividend payout ratio (DPR) is 59.66%.

Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.