Massachusetts Financial Services Co. MA Reduces Holdings in Rogers Communication, Inc. (NYSE:RCI)

Massachusetts Financial Services Co. MA cut its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 14.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,486,897 shares of the Wireless communications provider's stock after selling 427,258 shares during the period. Massachusetts Financial Services Co. MA owned 0.46% of Rogers Communication worth $66,124,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RCI. SBI Securities Co. Ltd. lifted its stake in shares of Rogers Communication by 885.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock valued at $25,000 after purchasing an additional 850 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Rogers Communication during the first quarter worth $79,000. CWM LLC grew its position in Rogers Communication by 57.4% in the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after purchasing an additional 1,363 shares in the last quarter. TD Private Client Wealth LLC grew its position in shares of Rogers Communication by 263.1% in the 1st quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock valued at $137,000 after acquiring an additional 3,718 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in shares of Rogers Communication 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 buying an additional 3,888 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RCI. Canaccord Genuity Group upgraded shares of Rogers Communication from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.00.

Rogers Communication Price Performance

Shares of NYSE:RCI opened at $33.13 on Friday. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.94 and a current ratio of 1.00. The stock has a market cap of $17.82 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.87 and a beta of 0.76. The business's fifty day moving average price is $28.40 and its two-hundred day moving average price is $27.71. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $41.84.

Rogers Communication (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 for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Rogers Communication had a return on equity of 25.28% and a net margin of 8.53%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the company earned $0.99 earnings per share. The business's revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th were given a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.36%. This is a boost from Rogers Communication's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, June 9th. Rogers Communication's dividend payout ratio (DPR) is currently 62.66%.

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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