Rogers Communication, Inc. $RCI is Letko Brosseau & Associates Inc.’s 4th Largest Position

Letko Brosseau & Associates Inc. decreased its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,621,447 shares of the Wireless communications provider’s stock after selling 69,575 shares during the quarter. Rogers Communication makes up approximately 4.1% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 4th biggest position. Letko Brosseau & Associates Inc. owned approximately 1.23% of Rogers Communication worth $250,270,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new stake in Rogers Communication during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its stake in Rogers Communication by 107.4% during the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 407 shares during the last quarter. Headlands Technologies LLC lifted its stake in Rogers Communication by 143.2% during the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Rogers Communication during the third quarter worth approximately $58,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Rogers Communication by 52.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 683 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RCI. Desjardins restated a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Scotiabank upgraded Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. Finally, TD Securities lowered Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Trading Down 0.5%

RCI opened at $37.55 on Wednesday. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 3.32 and a beta of 0.62. Rogers Communication, Inc. has a 52 week low of $26.70 and a 52 week high of $41.14. The business’s 50 day moving average is $36.01 and its two-hundred day moving average is $37.21. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, research analysts predict that Rogers Communication, Inc. will post 3.55 EPS for the current year.

Rogers Communication Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. Rogers Communication’s payout ratio is presently 15.51%.

Rogers Communication Company 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.