Louisbourg Investments Inc. Has $9.90 Million Stock Position in Rogers Communication, Inc. $RCI

Louisbourg Investments Inc. decreased its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 261,833 shares of the Wireless communications provider’s stock after selling 19,687 shares during the period. Rogers Communication accounts for 1.8% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 10th biggest holding. Louisbourg Investments Inc.’s holdings in Rogers Communication were worth $9,898,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC grew its holdings in shares of Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock valued at $49,000 after acquiring an additional 978 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Rogers Communication during the third quarter worth $58,000. EverSource Wealth Advisors LLC boosted its position in Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 683 shares during the last quarter. Advisory Services Network LLC purchased a new position in Rogers Communication in the third quarter worth $63,000. Finally, Danske Bank A S bought a new position in Rogers Communication in the 3rd quarter valued at $64,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Performance

Shares of RCI opened at $35.06 on Friday. The firm has a market cap of $18.94 billion, a PE ratio of 3.79, a PEG ratio of 5.06 and a beta of 0.72. The stock’s fifty day moving average price is $38.47 and its two-hundred day moving average price is $37.56. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.10. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Tuesday, March 10th. Rogers Communication’s dividend payout ratio (DPR) is currently 15.89%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. TD Cowen restated a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. Finally, Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.