PDT Partners LLC Cuts Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

PDT Partners LLC lessened its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 78.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,000 shares of the Wireless communications provider's stock after selling 75,490 shares during the quarter. PDT Partners LLC's holdings in Rogers Communications were worth $645,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RCI. FIL Ltd grew its position in Rogers Communications by 7.2% in the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock valued at $1,028,336,000 after acquiring an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Rogers Communications by 20.6% during the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock valued at $237,784,000 after buying an additional 1,320,200 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Rogers Communications by 123.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock valued at $206,565,000 after buying an additional 3,717,487 shares during the period. Scotia Capital Inc. increased its holdings in Rogers Communications by 18.3% during the 4th quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock worth $113,217,000 after purchasing an additional 572,270 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Rogers Communications by 0.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,914,155 shares of the Wireless communications provider's stock worth $89,552,000 after buying an additional 17,666 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

Rogers Communications stock traded up $0.03 during mid-day trading on Tuesday, reaching $25.43. 676,854 shares of the company traded hands, compared to its average volume of 1,009,408. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.84. The firm's fifty day moving average is $26.37 and its two-hundred day moving average is $30.09.

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 (EPS) for the quarter, missing the consensus estimate 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%. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be given a dividend of $0.3611 per share. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 5.68%. The ex-dividend date is Monday, June 9th. Rogers Communications's dividend payout ratio (DPR) is currently 59.66%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RCI shares. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Finally, Scotiabank cut shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $67.00.

Rogers Communications 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.