Lorne Steinberg Wealth Management Inc. Grows Position in Rogers Communications Inc. (NYSE:RCI)

Lorne Steinberg Wealth Management Inc. raised its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,011 shares of the Wireless communications provider’s stock after acquiring an additional 9,876 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Rogers Communications were worth $3,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its holdings in shares of Rogers Communications by 1.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock valued at $725,000 after buying an additional 379 shares in the last quarter. Creative Planning raised its holdings in shares of Rogers Communications by 2.2% during the 3rd quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider’s stock valued at $896,000 after buying an additional 486 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Rogers Communications by 7.9% during the 3rd quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after buying an additional 551 shares in the last quarter. Waldron Private Wealth LLC raised its holdings in shares of Rogers Communications by 3.1% during the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock valued at $682,000 after buying an additional 660 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Rogers Communications by 0.5% during the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock valued at $5,550,000 after buying an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

RCI has been the topic of a number of research reports. Morgan Stanley began coverage on Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating on the stock. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Rogers Communications has an average rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Price Performance

Shares of Rogers Communications stock opened at $27.84 on Wednesday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The business’s 50 day simple moving average is $29.47 and its two-hundred day simple moving average is $35.23. The stock has a market capitalization of $14.88 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68. Rogers Communications Inc. has a one year low of $26.57 and a one year high of $45.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Analysts forecast that Rogers Communications Inc. will post 3.58 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be given a $0.347 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.99%. Rogers Communications’s dividend payout ratio is currently 60.78%.

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 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.