Rogers Communications Inc. (NYSE:RCI) Shares Purchased by Guardian Capital LP

Guardian Capital LP boosted its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,715 shares of the Wireless communications provider's stock after buying an additional 32,219 shares during the period. Guardian Capital LP owned approximately 0.08% of Rogers Communications worth $19,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 270 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Rogers Communications in the third quarter valued at approximately $29,000. Fifth Third Bancorp boosted its position in Rogers Communications by 120.1% in the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider's stock worth $31,000 after purchasing an additional 359 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Rogers Communications by 120.8% during the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider's stock worth $43,000 after purchasing an additional 499 shares during the period. Finally, CVA Family Office LLC purchased a new position in shares of Rogers Communications during the 4th quarter valued at approximately $51,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RCI. StockNews.com downgraded shares of Rogers Communications from a "hold" rating to a "sell" rating in a report on Friday, April 5th. Barclays cut their price target on Rogers Communications from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.00.

Rogers Communications Price Performance

Shares of NYSE RCI traded up $0.23 during trading on Tuesday, hitting $39.84. The company had a trading volume of 406,905 shares, compared to its average volume of 625,998. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $49.33. The firm has a market capitalization of $21.06 billion, a price-to-earnings ratio of 49.79, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62. The stock has a fifty day simple moving average of $40.24 and a two-hundred day simple moving average of $43.21.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. On average, research analysts expect that Rogers Communications Inc. will post 3.64 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be given a $0.3658 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.46 dividend on an annualized basis and a yield of 3.67%. Rogers Communications's payout ratio is currently 183.75%.

Rogers Communications Company 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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