Rogers Communications Inc. (NYSE:RCI) Short Interest Up 65.2% in December

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 11,550,000 shares, an increase of 65.2% from the November 30th total of 6,990,000 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is currently 10.9 days.

Analyst Ratings Changes

Several research analysts recently issued reports on RCI shares. TD Securities increased their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets lifted their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Stock Performance

Shares of NYSE RCI traded down $0.29 during trading on Friday, reaching $30.36. 1,101,410 shares of the company traded hands, compared to its average volume of 820,660. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The firm has a 50 day simple moving average of $35.03 and a 200-day simple moving average of $37.51. Rogers Communications has a 52-week low of $30.06 and a 52-week high of $48.19. The stock has a market capitalization of $16.23 billion, a PE ratio of 14.81, a P/E/G ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities research analysts anticipate that Rogers Communications will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s payout ratio is currently 71.71%.

Institutional Trading of Rogers Communications

Several large investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. boosted its stake in shares of Rogers Communications by 2.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock worth $425,341,000 after acquiring an additional 288,614 shares during the last quarter. Mackenzie Financial Corp lifted its position in Rogers Communications by 10.2% during the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after purchasing an additional 974,937 shares in the last quarter. Toronto Dominion Bank grew its holdings in Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after purchasing an additional 2,206,690 shares during the period. National Bank of Canada FI increased its position in Rogers Communications by 18.6% in the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after buying an additional 977,924 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after buying an additional 3,980,525 shares during the period. 45.49% of the stock is currently owned by institutional investors.

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.