Renaissance Technologies LLC Has $4.86 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Renaissance Technologies LLC cut its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 67.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,230 shares of the Wireless communications provider's stock after selling 323,200 shares during the period. Renaissance Technologies LLC's holdings in Rogers Communications were worth $4,862,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Rogers Communications Stock Down 1.8 %

Shares of NYSE:RCI traded down $0.46 during midday trading on Friday, reaching $24.78. The company had a trading volume of 364,756 shares, compared to its average volume of 1,012,259. The business's 50 day moving average price is $26.74 and its 200 day moving average price is $30.82. Rogers Communications Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The stock has a market cap of $13.29 billion, a PE ratio of 10.68, a P/E/G ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Research analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be paid a $0.3611 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.83%. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's dividend payout ratio (DPR) is currently 59.48%.

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.