Short Interest in Rogers Communications Inc. (NYSE:RCI) Decreases By 26.8%

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 4,620,000 shares, a drop of 26.8% from the February 29th total of 6,310,000 shares. Approximately 1.2% of the company's shares are short sold. Based on an average trading volume of 434,000 shares, the days-to-cover ratio is currently 10.6 days.

Rogers Communications Stock Performance

Shares of RCI stock traded down $0.20 during midday trading on Friday, hitting $41.00. 887,186 shares of the company were exchanged, compared to its average volume of 607,181. The firm has a market capitalization of $21.67 billion, a P/E ratio of 34.17, a PEG ratio of 1.24 and a beta of 0.60. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.84 and a current ratio of 0.89. The firm's 50 day moving average price is $44.84 and its two-hundred day moving average price is $43.20. Rogers Communications has a 52 week low of $36.55 and a 52 week high of $50.00.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.11. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.99 billion. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. As a group, equities research analysts anticipate that Rogers Communications will post 3.78 earnings per share for the current year.

Rogers Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Monday, March 11th will be given a $0.3742 dividend. The ex-dividend date of this dividend is Friday, March 8th. This is a boost from Rogers Communications's previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a dividend yield of 3.65%. Rogers Communications's payout ratio is presently 122.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Rogers Communications from a "sell" rating to a "hold" rating in a research report on Sunday, March 24th. Barclays dropped their price objective on shares of Rogers Communications from $55.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, February 12th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $52.00.

Hedge Funds Weigh In On Rogers Communications

A number of institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in Rogers Communications by 62.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider's stock valued at $27,000 after acquiring an additional 270 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Rogers Communications in the 3rd quarter valued at $29,000. Fifth Third Bancorp boosted its stake in shares of Rogers Communications by 120.1% in the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider's stock valued at $31,000 after purchasing an additional 359 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider's stock valued at $43,000 after purchasing an additional 499 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Rogers Communications in the 4th quarter valued at $51,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in North America. 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 services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.