Burgundy Asset Management Ltd. Sells 841,326 Shares of Rogers Communication, Inc. $RCI

Burgundy Asset Management Ltd. lowered its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 20.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,331,220 shares of the Wireless communications provider’s stock after selling 841,326 shares during the period. Burgundy Asset Management Ltd.’s holdings in Rogers Communication were worth $119,291,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RCI. Bank of Nova Scotia lifted its position in Rogers Communication by 3.5% in the second quarter. Bank of Nova Scotia now owns 8,279,443 shares of the Wireless communications provider’s stock valued at $245,489,000 after purchasing an additional 280,536 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Rogers Communication by 261.2% during the 3rd quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after buying an additional 1,520,062 shares during the last quarter. TD Asset Management Inc raised its holdings in Rogers Communication by 18.0% during the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock valued at $287,340,000 after buying an additional 1,272,065 shares during the last quarter. Fiera Capital Corp boosted its position in Rogers Communication by 56.1% during the 2nd quarter. Fiera Capital Corp now owns 78,335 shares of the Wireless communications provider’s stock valued at $2,322,000 after buying an additional 28,163 shares during the period. Finally, Citigroup Inc. grew its holdings in Rogers Communication by 16.9% in the 3rd quarter. Citigroup Inc. now owns 395,919 shares of the Wireless communications provider’s stock worth $13,633,000 after acquiring an additional 57,159 shares during the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Price Performance

RCI opened at $40.49 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48. The company has a market cap of $21.87 billion, a price-to-earnings ratio of 4.38, a price-to-earnings-growth ratio of 5.34 and a beta of 0.74. The stock has a fifty day simple moving average of $37.61 and a two-hundred day simple moving average of $37.09. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. Research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is 15.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RCI shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Wall Street Zen cut Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Barclays restated a “positive” rating and set a $37.00 target price on shares of Rogers Communication in a report on Tuesday, January 27th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.