Louisbourg Investments Inc. Buys 61,482 Shares of Rogers Communication, Inc. $RCI

Key Points

• Louisbourg Investments Inc. increased its stake in Rogers Communication by 24.7%, acquiring an additional 61,482 shares during the second quarter, making Rogers Communication its 7th largest position.
• Rogers Communication recently announced a quarterly dividend of $0.3672 per share, reflecting a positive change from the previous quarterly dividend, and yielding 4.0% annually.
• The company's stock has a market capitalization of $19.81 billion and reported $0.82 earnings per share for the recent quarter, beating analyst expectations.

Louisbourg Investments Inc. grew its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 24.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 309,985 shares of the Wireless communications provider's stock after purchasing an additional 61,482 shares during the quarter. Rogers Communication makes up about 2.0% of Louisbourg Investments Inc.'s holdings, making the stock its 7th biggest position. Louisbourg Investments Inc. owned 0.06% of Rogers Communication worth $9,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its holdings in Rogers Communication by 0.4% during the first quarter. Mackenzie Financial Corp now owns 8,368,837 shares of the Wireless communications provider's stock worth $223,483,000 after purchasing an additional 37,013 shares in the last quarter. Bank of Nova Scotia raised its holdings in Rogers Communication by 3.4% during the first quarter. Bank of Nova Scotia now owns 7,998,907 shares of the Wireless communications provider's stock worth $213,641,000 after purchasing an additional 262,705 shares in the last quarter. Letko Brosseau & Associates Inc. raised its holdings in Rogers Communication by 13.0% during the first quarter. Letko Brosseau & Associates Inc. now owns 5,885,187 shares of the Wireless communications provider's stock worth $157,143,000 after purchasing an additional 674,807 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Rogers Communication by 303.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider's stock worth $148,047,000 after purchasing an additional 4,166,861 shares in the last quarter. Finally, Scotia Capital Inc. raised its holdings in Rogers Communication by 10.0% during the first quarter. Scotia Capital Inc. now owns 4,068,135 shares of the Wireless communications provider's stock worth $108,542,000 after purchasing an additional 370,490 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Trading Up 1.7%

Shares of RCI stock opened at $36.81 on Friday. The firm has a 50-day moving average price of $35.24 and a 200 day moving average price of $30.47. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $39.33. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 2.90 and a beta of 0.78. 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 (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 8th were paid a $0.3672 dividend. This represents a $1.47 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, September 8th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio is presently 72.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RCI shares. Weiss Ratings restated a "hold (c)" rating on shares of Rogers Communication in a research note on Wednesday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. Finally, Barclays lifted their price objective on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $33.00.

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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