Reliance Trust Co. of Delaware decreased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 4.2% in the 1st quarter, HoldingsChannel reports. The fund owned 12,004 shares of the Wireless communications provider’s stock after selling 522 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in Rogers Communications were worth $646,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of RCI. Lindbrook Capital LLC acquired a new position in shares of Rogers Communications during the fourth quarter worth $32,000. We Are One Seven LLC acquired a new position in shares of Rogers Communications during the fourth quarter worth $37,000. Enlightenment Research LLC acquired a new position in shares of Rogers Communications during the fourth quarter worth $46,000. Van ECK Associates Corp acquired a new position in shares of Rogers Communications during the fourth quarter worth $72,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Rogers Communications by 157.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,710 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 44.55% of the company’s stock.
Shares of RCI opened at $50.36 on Monday. Rogers Communications Inc. has a 1-year low of $46.09 and a 1-year high of $55.93. The firm has a market capitalization of $25.93 billion, a P/E ratio of 15.03, a P/E/G ratio of 2.94 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.67 and a quick ratio of 0.65.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Rogers Communications had a net margin of 13.47% and a return on equity of 27.28%. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $0.93 earnings per share. Rogers Communications’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts predict that Rogers Communications Inc. will post 3.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be issued a $0.3753 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.98%. Rogers Communications’s payout ratio is 45.37%.
A number of equities analysts recently commented on the stock. Raymond James downgraded shares of Rogers Communications to a “market perform” rating in a research note on Wednesday, February 27th. TD Securities cut shares of Rogers Communications to a “buy” rating in a research report on Wednesday, February 6th. Zacks Investment Research raised shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, February 14th. ValuEngine raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Rogers Communications in a research report on Tuesday, April 9th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Rogers Communications presently has a consensus rating of “Hold” and a consensus target price of $54.68.
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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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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