Triasima Portfolio Management inc. Increases Stock Position in Rogers Communication, Inc. $RCI

Key Points

• Triasima Portfolio Management increased its stake in Rogers Communications by 176.1% in Q4 to 95,215 shares (adding 60,730 shares), valued at about $3.60 million.
• Rogers declared a quarterly dividend of $0.50 per share (annualized $2.00), implying a ~5.5% yield and a low payout ratio of 15.08%, making it notable for income investors.
• Rogers trades at a PE of 3.84 with a $19.69 billion market cap; it reported $0.74 EPS (beat by $0.01) with revenue up 10.2% but below consensus, and analysts' consensus rating is Hold with an average target of $36.00.

Triasima Portfolio Management inc. increased its position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 176.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 95,215 shares of the Wireless communications provider's stock after acquiring an additional 60,730 shares during the period. Triasima Portfolio Management inc.'s holdings in Rogers Communication were worth $3,599,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in Rogers Communication by 2.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider's stock worth $340,428,000 after acquiring an additional 282,609 shares during the last quarter. Bank of Nova Scotia raised its holdings in Rogers Communication by 2.3% in the 3rd quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider's stock worth $291,526,000 after acquiring an additional 186,510 shares during the last quarter. TD Asset Management Inc raised its holdings in Rogers Communication by 18.0% in the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider's stock worth $287,340,000 after acquiring an additional 1,272,065 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Rogers Communication by 7.0% in the 3rd quarter. Mackenzie Financial Corp now owns 8,161,532 shares of the Wireless communications provider's stock worth $280,904,000 after acquiring an additional 536,623 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Rogers Communication by 67.8% in the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider's stock worth $167,765,000 after acquiring an additional 1,966,476 shares during the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Trading Up 0.0%

NYSE:RCI opened at $36.45 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. Rogers Communication, Inc. has a 12 month low of $24.80 and a 12 month high of $41.14. The company has a market cap of $19.69 billion, a PE ratio of 3.84, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61. The company has a 50 day simple moving average of $37.25 and a two-hundred day simple moving average of $37.44.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The firm's revenue was up 10.2% on a year-over-year basis. Research analysts forecast that Rogers Communication, Inc. will post 3.55 earnings per share for the current year.

Rogers Communication Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.5%. Rogers Communication's payout ratio is presently 15.08%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RCI. TD Cowen restated a "buy" rating on shares of Rogers Communication in a report on Friday, January 30th. Royal Bank Of Canada restated an "outperform" rating on shares of Rogers Communication in a report on Tuesday, January 13th. Desjardins restated a "hold" rating on shares of Rogers Communication in a report on Thursday, April 23rd. Barclays reaffirmed a "positive" rating and issued a $37.00 target price on shares of Rogers Communication in a research report on Tuesday, January 27th. Finally, Wall Street Zen downgraded shares of Rogers Communication from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Rogers Communication has an average rating of "Hold" and an average target price of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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