Brandes Investment Partners LP Raises Stock Position in Rogers Communications Inc. (NYSE:RCI)

Brandes Investment Partners LP increased its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 24.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,452 shares of the Wireless communications provider’s stock after purchasing an additional 11,734 shares during the period. Brandes Investment Partners LP’s holdings in Rogers Communications were worth $1,858,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC boosted its stake in shares of Rogers Communications by 95.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after purchasing an additional 744 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after purchasing an additional 1,052 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock valued at $178,000 after purchasing an additional 930 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Rogers Communications during the third quarter valued at approximately $206,000. Finally, Tidal Investments LLC bought a new position in shares of Rogers Communications during the third quarter valued at approximately $248,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Price Performance

Shares of RCI opened at $27.96 on Friday. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $42.96. The company has a 50 day moving average of $28.31 and a two-hundred day moving average of $33.78. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67.

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 the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a dividend of $0.347 per share. The ex-dividend date is Monday, March 10th. This represents a $1.39 annualized dividend and a dividend yield of 4.96%. Rogers Communications’s payout ratio is currently 59.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating on the stock. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays restated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.75.

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.