Mackenzie Financial Corp Decreases Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

Mackenzie Financial Corp lowered its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,331,824 shares of the Wireless communications provider's stock after selling 1,590,602 shares during the period. Mackenzie Financial Corp owned approximately 1.56% of Rogers Communications worth $255,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock worth $47,000 after purchasing an additional 744 shares during the period. Jones Financial Companies Lllp raised its holdings in Rogers Communications by 141.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock valued at $55,000 after buying an additional 1,052 shares during the last quarter. Headlands Technologies LLC raised its holdings in Rogers Communications by 274.2% during the 4th 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. V Square Quantitative Management LLC boosted its position in Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock valued at $178,000 after buying an additional 930 shares during the period. Finally, Prudential PLC grew its holdings in Rogers Communications by 21.6% in the 4th quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider's stock worth $268,000 after acquiring an additional 1,552 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank lowered shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Canaccord Genuity Group raised Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $67.00.

Rogers Communications Stock Up 1.7%

RCI traded up $0.46 on Thursday, hitting $26.74. The company had a trading volume of 379,017 shares, compared to its average volume of 1,126,442. The stock has a fifty day simple moving average of $25.60 and a 200-day simple moving average of $28.84. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a market capitalization of $14.33 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a 52-week low of $23.18 and a 52-week high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data 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). The firm had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Rogers Communications's revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, equities analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be issued a $0.3611 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 annualized dividend and a yield of 5.40%. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's dividend payout ratio is currently 59.66%.

About Rogers Communications

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.