Rogers Communication, Inc. (NYSE:RCI) Shares Sold by Canoe Financial LP

Canoe Financial LP lessened its position in shares of 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 Securities & Exchange Commission. The fund owned 218,649 shares of the Wireless communications provider's stock after selling 1,080,662 shares during the quarter. Canoe Financial LP's holdings in Rogers Communication were worth $5,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Louisbourg Investments Inc. raised its stake in Rogers Communication by 0.8% in the 1st quarter. Louisbourg Investments Inc. now owns 248,503 shares of the Wireless communications provider's stock valued at $6,643,000 after purchasing an additional 2,033 shares during the last quarter. Lorne Steinberg Wealth Management Inc. raised its stake in Rogers Communication by 19.8% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 120,997 shares of the Wireless communications provider's stock valued at $3,234,000 after purchasing an additional 19,986 shares during the last quarter. Bard Financial Services Inc. acquired a new position in Rogers Communication in the 1st quarter valued at about $1,263,000. Monarch Capital Management Inc. raised its stake in Rogers Communication by 11.8% in the 1st quarter. Monarch Capital Management Inc. now owns 54,783 shares of the Wireless communications provider's stock valued at $1,475,000 after purchasing an additional 5,770 shares during the last quarter. Finally, Vest Financial LLC raised its stake in Rogers Communication by 83.1% in the 1st quarter. Vest Financial LLC now owns 45,097 shares of the Wireless communications provider's stock valued at $1,205,000 after purchasing an additional 20,474 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Stock Up 0.7%

RCI opened at $27.78 on Friday. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.00 and a quick ratio of 0.94. The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The business has a 50-day moving average of $26.12 and a two-hundred day moving average of $27.84. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly 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). The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communication had a net margin of 8.53% and a return on equity of 25.28%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. On average, research analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be issued a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.20%. This is a boost from Rogers Communication's previous quarterly dividend of $0.35. Rogers Communication's payout ratio is presently 62.66%.

Analysts Set New Price Targets

Several research analysts recently weighed in on RCI shares. Scotiabank downgraded shares of Rogers Communication from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. Canaccord Genuity Group raised shares of 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 assigned a buy rating to the company's stock. According to MarketBeat, Rogers Communication currently has an average rating of "Hold" and an average target price of $67.00.

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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