Rogers Communications Inc. (NYSE:RCI) Short Interest Update

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 7,020,000 shares, an increase 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 stock are sold short.

Analyst Upgrades and Downgrades

RCI has been the topic of a number of research reports. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Scotiabank lowered Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $67.00.

Rogers Communications Price Performance

RCI stock traded up $0.26 during trading on Monday, hitting $27.91. 868,224 shares of the company's stock traded hands, compared to its average volume of 1,012,597. Rogers Communications has a 52 week low of $23.18 and a 52 week high of $41.84. The stock has a market capitalization of $14.96 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.43 and a beta of 0.73. The business has a fifty day simple moving average of $25.84 and a 200 day simple moving average of $27.96. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results 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 return on equity of 25.19% and a net margin of 8.40%. The company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The company's revenue was up 1.5% on a year-over-year basis. As a group, research analysts expect that Rogers Communications will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a yield of 5.17%. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, June 9th. Rogers Communications's payout ratio is presently 62.23%.

Institutional Investors Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in Rogers Communications by 303.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider's stock valued at $148,047,000 after purchasing an additional 4,166,861 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Rogers Communications by 123.5% during the fourth 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. Canada Pension Plan Investment Board grew its stake in shares of Rogers Communications by 373.1% during the first quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider's stock valued at $76,671,000 after buying an additional 2,263,859 shares during the last quarter. FIL Ltd raised its holdings in shares of Rogers Communications by 7.2% in the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after buying an additional 2,244,240 shares during the period. Finally, Value Partners Investments Inc. lifted its stake in shares of Rogers Communications by 1,252.8% during the 1st quarter. Value Partners Investments Inc. now owns 2,312,136 shares of the Wireless communications provider's stock worth $61,808,000 after acquiring an additional 2,141,227 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

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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