Letko Brosseau & Associates Inc. Has $157.14 Million Position in Rogers Communication, Inc. (NYSE:RCI)

Key Points

• Letko Brosseau & Associates Inc. increased its stake in Rogers Communication by 13.0%, owning approximately 5,885,187 shares, which represents about 3.3% of its investment portfolio.
• Rogers Communication recently reported earnings of $0.82 per share, exceeding the consensus estimate, but its revenue of $3.82 billion fell short of expectations.
• The company declared a quarterly dividend of $0.3672 per share, reflecting a positive increase from the previous quarter and an annualized yield of 4.36%.

Letko Brosseau & Associates Inc. boosted its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,885,187 shares of the Wireless communications provider's stock after purchasing an additional 674,807 shares during the period. Rogers Communication comprises 3.3% of Letko Brosseau & Associates Inc.'s portfolio, making the stock its 7th largest holding. Letko Brosseau & Associates Inc. owned about 1.10% of Rogers Communication worth $157,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RCI. SBI Securities Co. Ltd. increased its holdings in Rogers Communication by 885.4% during the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock valued at $25,000 after buying an additional 850 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Rogers Communication during the first quarter valued at approximately $79,000. CWM LLC increased its holdings in Rogers Communication by 57.4% during the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after buying an additional 1,363 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Rogers Communication by 263.1% during the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock valued at $137,000 after buying an additional 3,718 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in Rogers Communication by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after buying an additional 3,888 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on RCI. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $72.00.

Rogers Communication Price Performance

Shares of NYSE RCI traded up $0.30 during midday trading on Friday, reaching $33.70. The stock had a trading volume of 1,211,417 shares, compared to its average volume of 1,580,831. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.82 and a beta of 0.77. The stock has a 50-day moving average of $30.19 and a 200-day moving average of $27.97. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted 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. The company had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $5.12 billion. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. Rogers Communication's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $1.16 earnings per share. As a group, research analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal 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 dividend of $0.3672 per share. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a yield of 4.4%. Rogers Communication's dividend payout ratio is 72.64%.

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.