Lorne Steinberg Wealth Management Inc. Increases Position in Rogers Communications Inc. (NYSE:RCI)

Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 19.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,997 shares of the Wireless communications provider's stock after purchasing an additional 19,986 shares during the period. Lorne Steinberg Wealth Management Inc.'s holdings in Rogers Communications were worth $3,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its stake 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 worth $47,000 after buying an additional 744 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Rogers Communications by 141.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock valued at $55,000 after acquiring an additional 1,052 shares during the period. Versant Capital Management Inc purchased a new stake in Rogers Communications in the 1st quarter worth approximately $79,000. Headlands Technologies LLC grew its stake in shares of Rogers Communications by 274.2% during the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after purchasing an additional 3,888 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in shares of Rogers Communications by 19.1% during 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 purchasing an additional 930 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Price Performance

RCI traded up $0.26 during midday trading on Monday, hitting $27.91. 868,224 shares of the company traded hands, compared to its average volume of 1,012,594. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.43 and a beta of 0.73. The business has a 50 day simple moving average of $25.76 and a two-hundred day simple moving average of $28.01. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. 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 issued its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The company's quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be given a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.17%. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date is Monday, June 9th. Rogers Communications's payout ratio is presently 62.23%.

Analyst Upgrades and Downgrades

Several research firms recently commented on RCI. Scotiabank lowered shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.