Louisbourg Investments Inc. Sells 134,932 Shares of Rogers Communication, Inc. $RCI

Louisbourg Investments Inc. lessened its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 51.5% during the first quarter, Holdings Channel.com reports. The firm owned 126,901 shares of the Wireless communications provider’s stock after selling 134,932 shares during the quarter. Louisbourg Investments Inc.’s holdings in Rogers Communication were worth $4,871,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Pictet Asset Management Holding SA lifted its holdings in Rogers Communication by 5.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 210,891 shares of the Wireless communications provider’s stock worth $8,085,000 after buying an additional 11,031 shares during the period. Cardinal Point Capital Management ULC increased its stake in shares of Rogers Communication by 1.5% in the first quarter. Cardinal Point Capital Management ULC now owns 333,058 shares of the Wireless communications provider’s stock valued at $12,783,000 after buying an additional 5,011 shares during the period. Cidel Asset Management Inc. acquired a new stake in shares of Rogers Communication in the first quarter valued at about $429,000. Monarch Capital Management Inc. raised its position in shares of Rogers Communication by 0.6% during the first quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock worth $2,299,000 after acquiring an additional 360 shares during the last quarter. Finally, Purpose Unlimited Inc. acquired a new position in shares of Rogers Communication in the fourth quarter worth approximately $6,940,000. Institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on RCI shares. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Scotiabank upgraded shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rogers Communication presently has a consensus rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Stock Performance

RCI stock opened at $34.87 on Friday. The firm has a market cap of $18.84 billion, a PE ratio of 3.68, a price-to-earnings-growth ratio of 3.13 and a beta of 0.62. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $36.67 and a 200-day moving average price of $37.11. Rogers Communication, Inc. has a 1-year low of $28.95 and a 1-year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Rogers Communication, Inc. will post 3.47 earnings per share for the current year.

Rogers Communication Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 annualized dividend and a yield of 5.7%. Rogers Communication’s payout ratio is 15.30%.

Rogers Communication Profile

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.