Rogers Communications Inc. (NYSE:RCI) Stock Position Lowered by Cumberland Partners Ltd

Cumberland Partners Ltd lessened its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 8.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,280 shares of the Wireless communications provider’s stock after selling 700 shares during the quarter. Cumberland Partners Ltd’s holdings in Rogers Communications were worth $223,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RCI. Cromwell Holdings LLC purchased a new stake in shares of Rogers Communications in the 3rd quarter valued at approximately $31,000. V Square Quantitative Management LLC lifted its position 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 valued at $178,000 after acquiring an additional 930 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Rogers Communications in the 3rd quarter valued at approximately $206,000. Tidal Investments LLC purchased a new stake in shares of Rogers Communications in the 3rd quarter valued at approximately $248,000. Finally, Signaturefd LLC lifted its position in shares of Rogers Communications by 11.1% in the 3rd quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider’s stock valued at $266,000 after acquiring an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Shares of RCI opened at $28.01 on Friday. The company’s fifty day moving average is $29.23 and its 200-day moving average is $35.13. Rogers Communications Inc. has a 12 month low of $26.57 and a 12 month high of $45.93. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.42 and a beta of 0.68. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Equities analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be paid a $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 4.96%. Rogers Communications’s payout ratio is presently 60.78%.

Analyst Ratings Changes

A number of research firms have issued reports on RCI. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley began coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.75.

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.