Guardian Capital LP Purchases 31,301 Shares of Rogers Communication, Inc. $RCI

Guardian Capital LP boosted its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 623,545 shares of the Wireless communications provider’s stock after purchasing an additional 31,301 shares during the period. Guardian Capital LP owned about 0.12% of Rogers Communication worth $21,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Metis Global Partners LLC boosted its position in shares of Rogers Communication by 12.6% during the second quarter. Metis Global Partners LLC now owns 15,984 shares of the Wireless communications provider’s stock valued at $474,000 after buying an additional 1,791 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Rogers Communication in the second quarter worth approximately $443,000. AGF Management Ltd. raised its holdings in shares of Rogers Communication by 28.1% in the second quarter. AGF Management Ltd. now owns 1,800,421 shares of the Wireless communications provider’s stock worth $53,400,000 after buying an additional 394,848 shares during the period. Aviva PLC lifted its stake in shares of Rogers Communication by 6.6% during the 2nd quarter. Aviva PLC now owns 253,736 shares of the Wireless communications provider’s stock worth $7,525,000 after acquiring an additional 15,753 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of Rogers Communication by 13.3% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,003,712 shares of the Wireless communications provider’s stock worth $59,469,000 after acquiring an additional 234,764 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Trading Down 0.7%

RCI opened at $40.31 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. The stock’s fifty day moving average is $37.73 and its two-hundred day moving average is $37.15. The company has a market capitalization of $21.78 billion, a P/E ratio of 4.36, a PEG ratio of 5.37 and a beta of 0.74. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $5.94 billion. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 EPS. Analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is presently 15.46%.

Analysts Set New Price Targets

Several equities analysts have commented on RCI shares. Wall Street Zen downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Morgan Stanley reissued an “underweight” rating on shares of Rogers Communication in a research note on Wednesday, December 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Finally, Desjardins lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rogers Communication presently has a consensus rating of “Hold” and an average target price of $36.00.

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.