Rogers Communications Inc. (NYSE:RCI) Shares Sold by Investors Research Corp

Investors Research Corp trimmed its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 25.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,945 shares of the Wireless communications provider’s stock after selling 4,175 shares during the period. Investors Research Corp’s holdings in Rogers Communications were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Rogers Communications by 371.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after purchasing an additional 3,980,525 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Rogers Communications by 90.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after purchasing an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Rogers Communications by 86.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after purchasing an additional 1,211,482 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Rogers Communications by 18.6% during the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Rogers Communications by 1,046.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock worth $24,101,000 after purchasing an additional 547,201 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Price Performance

RCI opened at $27.96 on Tuesday. Rogers Communications Inc. has a 1 year low of $26.57 and a 1 year high of $44.38. The company’s 50 day simple moving average is $28.52 and its 200 day simple moving average is $34.10. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a market capitalization of $14.94 billion, a PE ratio of 12.05, a P/E/G ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be issued a $0.347 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 4.96%. Rogers Communications’s payout ratio is 59.48%.

Analyst Ratings Changes

Several research firms have issued reports on RCI. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note 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 on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.