First Trust Advisors LP Has $100.30 Million Stock Position in Rogers Communication, Inc. $RCI

First Trust Advisors LP cut its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 8.6% during the 1st quarter, HoldingsChannel reports. The fund owned 2,608,469 shares of the Wireless communications provider’s stock after selling 246,616 shares during the quarter. First Trust Advisors LP’s holdings in Rogers Communication were worth $100,296,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC acquired a new stake in Rogers Communication in the 4th quarter worth about $26,000. Farther Finance Advisors LLC boosted 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 buying an additional 407 shares during the period. Headlands Technologies LLC boosted its stake in shares of Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock valued at $49,000 after buying an additional 978 shares during the period. Advisory Services Network LLC acquired a new stake in Rogers Communication during the third quarter worth approximately $63,000. Finally, Danske Bank A S bought a new position in Rogers Communication during the 3rd quarter worth $64,000. 45.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RCI shares. Barclays cut their target price on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Desjardins reissued a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Weiss Ratings cut shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Raymond James Financial began coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They set an “outperform” rating for the company. Finally, Wall Street Zen lowered shares of Rogers Communication from a “hold” rating to a “sell” rating in a research report on Saturday. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Price Performance

Shares of NYSE:RCI opened at $32.76 on Friday. Rogers Communication, Inc. has a one year low of $31.38 and a one year high of $41.14. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.53. The company has a market cap of $17.70 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 4.07 and a beta of 0.64. The firm has a 50 day simple moving average of $35.59 and a 200 day simple moving average of $36.57.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.91 billion. During the same period in the prior year, the company earned $1.14 EPS. Rogers Communication’s revenue was up 7.6% compared to the same quarter last year. Research analysts predict that Rogers Communication, Inc. will post 3.27 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The firm 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Rogers Communication’s payout ratio is presently 15.30%.

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.