Rogers Communications Inc. (NYSE:RCI) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 35.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 763,734 shares of the Wireless communications provider's stock after selling 419,670 shares during the period. Millennium Management LLC owned about 0.14% of Rogers Communications worth $23,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RCI. Arrowstreet Capital Limited Partnership raised its position in shares of Rogers Communications by 123.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after acquiring an additional 3,717,487 shares during the period. FIL Ltd grew its position in shares of Rogers Communications by 7.2% in the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock valued at $1,028,336,000 after purchasing an additional 2,244,240 shares during the period. Bank of Nova Scotia increased its stake in shares of Rogers Communications by 20.6% during 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 purchasing an additional 1,320,200 shares in the last quarter. Letko Brosseau & Associates Inc. increased its stake in Rogers Communications 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 buying an additional 992,780 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of Rogers Communications by 5,526.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock valued at $18,177,000 after acquiring an additional 581,424 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Scotiabank cut shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $67.00.

Rogers Communications Trading Up 0.9%

NYSE RCI opened at $25.87 on Wednesday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.43 and a beta of 0.73. The firm has a 50 day simple moving average of $25.83 and a 200-day simple moving average of $29.22. Rogers Communications Inc. has a one year low of $23.18 and a one year high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued 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 Communications had a net margin of 8.40% and a return on equity of 25.19%. The business's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. Equities research analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be given a dividend of $0.3611 per share. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Monday, June 9th. Rogers Communications's payout ratio is 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.

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