Massachusetts Financial Services Co. MA Cuts Stake in Rogers Communication, Inc. $RCI

Key Points

• Massachusetts Financial Services trimmed its stake in Rogers Communications by 3.8% in Q4, selling 45,526 shares and leaving it with 1,156,761 shares valued at about $43.65 million (0.21% ownership).
• Rogers reported an EPS beat ($1.08 vs. $0.98) while revenue missed expectations ($4.49B vs. $5.94B); the stock trades near $33.30 with a low PE of 3.6 and a market cap around $18 billion.
• The company pays a $2.00 annual dividend (a ~6.0% yield) and has a consensus Wall Street rating of Hold with a $36 average price target.

Massachusetts Financial Services Co. MA trimmed its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,156,761 shares of the Wireless communications provider's stock after selling 45,526 shares during the period. Massachusetts Financial Services Co. MA owned 0.21% of Rogers Communication worth $43,645,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC grew its stake in Rogers Communication by 5.2% during the fourth quarter. Signaturefd LLC now owns 18,766 shares of the Wireless communications provider's stock valued at $708,000 after acquiring an additional 933 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in Rogers Communication by 1.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 139,304 shares of the Wireless communications provider's stock valued at $5,265,000 after buying an additional 2,044 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in Rogers Communication during the 3rd quarter valued at approximately $2,090,000. FNY Investment Advisers LLC purchased a new position in Rogers Communication during the 3rd quarter valued at approximately $58,000. Finally, CIBC Bancorp USA Inc. purchased a new position in Rogers Communication during the 3rd quarter valued at approximately $280,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Price Performance

RCI stock opened at $33.30 on Wednesday. Rogers Communication, Inc. has a 12 month low of $24.63 and a 12 month high of $41.14. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average price of $37.88 and a 200 day moving average price of $37.48. The stock has a market cap of $17.99 billion, a PE ratio of 3.60, a P/E/G ratio of 5.80 and a beta of 0.72.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.10. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The firm had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $5.94 billion. During the same period in the previous year, the company earned $1.46 EPS. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a yield of 6.0%. Rogers Communication's payout ratio is presently 15.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RCI shares. Wall Street Zen cut Rogers Communication from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. TD Securities cut shares of Rogers Communication from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. TD Cowen reissued a "buy" rating on shares of Rogers Communication in a research note on Friday, January 30th. Barclays reissued a "positive" rating and issued a $37.00 price objective on shares of Rogers Communication in a research note on Tuesday, January 27th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Rogers Communication in a report on Friday, December 26th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Rogers Communication presently has an average rating of "Hold" and a consensus target price of $36.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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