PDT Partners LLC Trims Stake in Rogers Communications Inc. (NYSE:RCI)

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

Several other large investors also recently added to or reduced their stakes in RCI. Lindbrook Capital LLC lifted its holdings in Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock worth $47,000 after purchasing an additional 744 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock valued at $55,000 after purchasing an additional 1,052 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Rogers Communications by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after buying an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Rogers Communications by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock worth $178,000 after purchasing an additional 930 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Rogers Communications during the third quarter worth approximately $248,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

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

Rogers Communications Stock Performance

NYSE RCI traded up $0.10 on Wednesday, hitting $25.53. 284,913 shares of the company traded hands, compared to its average volume of 1,008,092. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The business's 50 day moving average price is $26.32 and its 200-day moving average price is $30.06. The company has a market capitalization of $13.68 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a 52-week low of $23.18 and a 52-week high of $41.84.

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 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be paid a dividend of $0.3611 per share. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.66%. Rogers Communications's dividend payout ratio is presently 59.66%.

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.