Rogers Communication, Inc. $RCI Stock Sold by Value Partners Investments Inc.

Value Partners Investments Inc. lowered its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,606,978 shares of the Wireless communications provider’s stock after selling 15,869 shares during the period. Rogers Communication comprises 3.4% of Value Partners Investments Inc.’s portfolio, making the stock its 14th biggest holding. Value Partners Investments Inc.’s holdings in Rogers Communication were worth $49,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of Rogers Communication by 10.2% in the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock valued at $130,000 after purchasing an additional 312 shares in the last quarter. Monarch Capital Management Inc. raised its stake in shares of Rogers Communication by 0.6% during the 1st quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock valued at $2,299,000 after purchasing an additional 360 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Rogers Communication by 15.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider’s stock worth $119,000 after purchasing an additional 418 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Rogers Communication by 8.2% during the 3rd quarter. Versant Capital Management Inc now owns 6,326 shares of the Wireless communications provider’s stock worth $195,000 after purchasing an additional 480 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Rogers Communication by 2.5% in the 2nd quarter. Squarepoint Ops LLC now owns 21,669 shares of the Wireless communications provider’s stock worth $704,000 after purchasing an additional 524 shares during the period. 45.49% of the stock is owned by institutional investors.

Rogers Communication Price Performance

Shares of Rogers Communication stock traded down $0.34 during trading on Monday, hitting $31.64. The stock had a trading volume of 1,961,410 shares, compared to its average volume of 1,263,640. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. Rogers Communication, Inc. has a 12 month low of $29.25 and a 12 month high of $41.14. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 3.82, a P/E/G ratio of 4.02 and a beta of 0.65. The business’s 50-day moving average is $34.30 and its 200 day moving average is $34.93.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Rogers Communication, Inc. will post 3.24 earnings per share for the current year.

Rogers Communication Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th were issued a C$0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 6.3%. Rogers Communication’s dividend payout ratio (DPR) is presently 17.39%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Desjardins upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research note on Monday, September 14th. Weiss Ratings cut Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Barclays cut their price objective on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Finally, Raymond James Financial started coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rogers Communication currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.