Burgundy Asset Management Ltd. Decreases Holdings in Rogers Communications Inc. (NYSE:RCI)

Burgundy Asset Management Ltd. lowered its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,531,604 shares of the Wireless communications provider's stock after selling 17,228 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.47% of Rogers Communications worth $77,749,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RCI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Rogers Communications by 7.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 749,464 shares of the Wireless communications provider's stock worth $23,031,000 after purchasing an additional 53,208 shares during the period. Twinbeech Capital LP raised its position in Rogers Communications by 235.5% during the 4th quarter. Twinbeech Capital LP now owns 28,844 shares of the Wireless communications provider's stock worth $886,000 after buying an additional 20,246 shares during the last quarter. Tidal Investments LLC lifted its stake in Rogers Communications by 198.3% during the 4th quarter. Tidal Investments LLC now owns 18,431 shares of the Wireless communications provider's stock valued at $566,000 after acquiring an additional 12,253 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in shares of Rogers Communications by 239.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock valued at $1,306,000 after acquiring an additional 29,982 shares during the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of Rogers Communications in the fourth quarter worth $434,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Price Performance

NYSE RCI traded down $0.15 during mid-day trading on Wednesday, hitting $26.44. The stock had a trading volume of 268,806 shares, compared to its average volume of 1,127,383. The firm's 50 day moving average is $25.62 and its 200 day moving average is $28.85. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a twelve month low of $23.18 and a twelve month high of $41.84.

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

Rogers Communications Increases Dividend

The company also recently announced 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 a boost from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 annualized dividend and a yield of 5.46%. Rogers Communications's dividend payout ratio (DPR) is 59.66%.

Wall Street Analyst Weigh In

RCI has been the subject of a number of research reports. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.00.

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 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.