Rogers Communication, Inc. (NYSE:RCI) Sees Large Growth in Short Interest

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 7,020,000 shares, a growth of 46.3% from the May 15th total of 4,800,000 shares. Based on an average trading volume of 1,170,000 shares, the days-to-cover ratio is currently 6.0 days. Currently, 1.9% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group upgraded Rogers Communication from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Scotiabank downgraded Rogers Communication from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Rogers Communication has a consensus rating of "Hold" and an average target price of $67.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC grew its stake in shares of Rogers Communication by 19.1% in the fourth 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. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Rogers Communication by 10.8% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 101,011 shares of the Wireless communications provider's stock worth $3,102,000 after purchasing an additional 9,876 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of Rogers Communication by 30.1% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 317,971 shares of the Wireless communications provider's stock worth $9,693,000 after purchasing an additional 73,618 shares in the last quarter. A&I Financial Services LLC bought a new position in shares of Rogers Communication in the fourth quarter worth $363,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Rogers Communication by 141.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after purchasing an additional 1,052 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Stock Performance

RCI traded up $0.19 during trading on Thursday, reaching $27.60. 1,092,001 shares of the company were exchanged, compared to its average volume of 1,017,160. The stock has a market cap of $14.79 billion, a P/E ratio of 11.84, a PEG ratio of 1.52 and a beta of 0.73. The firm has a 50 day moving average of $26.06 and a 200 day moving average of $27.89. The company has a current ratio of 1.00, a quick ratio of 0.94 and a debt-to-equity ratio of 3.97. Rogers Communication has a 52 week low of $23.18 and a 52 week high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. Rogers Communication had a return on equity of 25.28% and a net margin of 8.53%. Rogers Communication's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, sell-side analysts forecast that Rogers Communication will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The business also recently disclosed 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 Communication's previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date is Monday, June 9th. Rogers Communication's dividend payout ratio is presently 62.66%.

Rogers Communication 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.