Rogers Communications Inc. (NYSE:RCI) Short Interest Update

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 7,490,000 shares, an increase of 34.5% from the January 31st total of 5,570,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 6.4 days.

Rogers Communications Trading Down 0.5 %

Rogers Communications stock opened at $27.62 on Tuesday. The company has a 50 day moving average price of $28.77 and a 200 day moving average price of $34.52. Rogers Communications has a 52 week low of $26.57 and a 52 week high of $44.53. 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 firm has a market capitalization of $14.76 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.43 and a beta of 0.68.

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

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be paid a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is currently 59.05%.

Analysts Set New Price Targets

RCI has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.75.

Institutional Investors Weigh In On Rogers Communications

Institutional investors have recently modified their holdings of the stock. 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 valued at $203,334,000 after buying an additional 3,980,525 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Rogers Communications by 106.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock valued at $5,383,000 after buying an additional 68,971 shares during the period. Avanza Fonder AB acquired a new stake in shares of Rogers Communications in the 4th quarter valued at $718,000. MQS Management LLC acquired a new stake in shares of Rogers Communications in the 3rd quarter valued at $726,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Rogers Communications by 1,046.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after purchasing an additional 547,201 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

About Rogers Communications

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.