Canoe Financial LP Decreases Stock Position in Rogers Communication, Inc. (NYSE:RCI)

Canoe Financial LP lessened its position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 83.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 218,649 shares of the Wireless communications provider's stock after selling 1,080,662 shares during the period. Canoe Financial LP's holdings in Rogers Communication were worth $5,840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Rogers Communication by 123.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after buying an additional 3,717,487 shares in the last quarter. FIL Ltd grew its holdings in Rogers Communication by 7.2% during the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after acquiring an additional 2,244,240 shares during the period. Bank of Nova Scotia raised its position in Rogers Communication by 20.6% in the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after acquiring an additional 1,320,200 shares in the last quarter. Letko Brosseau & Associates Inc. grew its stake in shares of Rogers Communication by 23.5% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider's stock worth $160,094,000 after purchasing an additional 992,780 shares during the period. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Rogers Communication by 5,526.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock worth $18,177,000 after purchasing an additional 581,424 shares during the period. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communication Price Performance

Shares of RCI traded up $0.98 during mid-day trading on Tuesday, reaching $29.14. 2,178,382 shares of the company's stock were exchanged, compared to its average volume of 1,027,833. The company has a quick ratio of 0.94, a current ratio of 1.00 and a debt-to-equity ratio of 3.97. Rogers Communication, Inc. has a 52-week low of $23.18 and a 52-week high of $41.84. The company has a 50-day simple moving average of $26.18 and a two-hundred day simple moving average of $27.67. The company has a market cap of $15.68 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.53 and a beta of 0.73.

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

Rogers Communication Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be given a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.96%. This is a boost from Rogers Communication's previous quarterly dividend of $0.35. The ex-dividend date is Monday, June 9th. Rogers Communication's payout ratio is 62.66%.

Analysts Set New Price Targets

RCI has been the topic of a number of research analyst reports. Scotiabank downgraded shares of Rogers Communication from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Canaccord Genuity Group raised Rogers Communication 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 assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $67.00.

About Rogers Communication

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.