Hsbc Holdings PLC Sells 11,245 Shares of Rogers Communication, Inc. $RCI

Key Points

• Hsbc Holdings PLC has reduced its stake in Rogers Communication, Inc. by 3.6%, selling 11,245 shares and retaining approximately 0.06% of the company, valued at $8,139,000.
• Rogers Communication is set to pay an increased quarterly dividend of $0.3672 on October 3rd, translating to an annual yield of 4.1% based on an annualized dividend of $1.47.
• The company reported $0.82 earnings per share (EPS), exceeding analyst expectations, with a revenue of $3.82 billion for the last quarter, up 2.4% year-over-year.

Hsbc Holdings PLC reduced its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 3.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 303,281 shares of the Wireless communications provider's stock after selling 11,245 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Rogers Communication worth $8,139,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RCI. Polar Asset Management Partners Inc. lifted its position in shares of Rogers Communication by 239.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock worth $1,306,000 after buying an additional 29,982 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Rogers Communication by 280.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider's stock worth $7,428,000 after acquiring an additional 178,145 shares during the period. Gotham Asset Management LLC boosted its position in Rogers Communication by 210.8% in the fourth quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock worth $944,000 after purchasing an additional 20,833 shares during the last quarter. A&I Financial Services LLC grew its stake in Rogers Communication by 66.0% in the 1st quarter. A&I Financial Services LLC now owns 19,637 shares of the Wireless communications provider's stock valued at $525,000 after purchasing an additional 7,810 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Rogers Communication by 4.7% during the 1st quarter. Deutsche Bank AG now owns 578,493 shares of the Wireless communications provider's stock valued at $15,463,000 after purchasing an additional 25,717 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Stock Up 0.2%

Rogers Communication stock opened at $35.6550 on Monday. The firm has a 50 day simple moving average of $32.52 and a 200 day simple moving average of $28.64. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The firm has a market capitalization of $19.18 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.32 and a beta of 0.77.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The company's revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 8th will be paid a $0.3672 dividend. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, September 8th. Rogers Communication's payout ratio is 72.64%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RCI shares. Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Barclays boosted their target price on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rogers Communication presently has a consensus rating of "Hold" and a consensus target price of $59.00.

Rogers Communication 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.

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