QV Investors Inc. Sells 31,880 Shares of Rogers Communication, Inc. $RCI

QV Investors Inc. decreased its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 818,963 shares of the Wireless communications provider’s stock after selling 31,880 shares during the quarter. Rogers Communication comprises 2.0% of QV Investors Inc.’s portfolio, making the stock its 18th biggest holding. QV Investors Inc.’s holdings in Rogers Communication were worth $26,634,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of RCI. Manchester Capital Management LLC bought a new position in Rogers Communication during the fourth quarter valued at $26,000. Farther Finance Advisors LLC raised its stake in shares of Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after acquiring an additional 407 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Rogers Communication by 143.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after acquiring an additional 978 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 683 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Rogers Communication during the 3rd quarter worth about $63,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Barclays cut their target price on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 16th. Raymond James Financial began coverage on Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings raised Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Performance

Rogers Communication stock opened at $36.58 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55. The company has a market capitalization of $19.76 billion, a PE ratio of 4.42, a P/E/G ratio of 4.56 and a beta of 0.64. The company has a 50 day moving average price of $34.47 and a 200-day moving average price of $36.33. Rogers Communication, Inc. has a fifty-two week low of $31.38 and a fifty-two week high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.Rogers Communication’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, equities analysts forecast that Rogers Communication, Inc. will post 3.27 earnings per share for the current year.

Rogers Communication Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, September 8th. Rogers Communication’s dividend payout ratio is currently 17.51%.

Rogers Communication Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.