Burgundy Asset Management Ltd. Sells 841,326 Shares of Rogers Communication, Inc. $RCI

Burgundy Asset Management Ltd. decreased its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 20.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,331,220 shares of the Wireless communications provider’s stock after selling 841,326 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 0.62% of Rogers Communication worth $119,291,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RCI. Headlands Technologies LLC lifted its holdings 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 valued at $49,000 after purchasing an additional 978 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Rogers Communication by 106.2% in the second quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 1,005 shares during the period. MAI Capital Management raised its position in shares of Rogers Communication by 30.5% in the second quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 458 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after buying an additional 683 shares in the last quarter. Finally, Tobam boosted its holdings in Rogers Communication by 148.6% in the 2nd quarter. Tobam now owns 4,005 shares of the Wireless communications provider’s stock worth $119,000 after buying an additional 2,394 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Trading Up 0.3%

Shares of RCI stock opened at $40.49 on Thursday. The business has a 50-day moving average price of $37.61 and a two-hundred day moving average price of $37.09. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.14. 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 firm has a market cap of $21.87 billion, a P/E ratio of 4.38, a price-to-earnings-growth ratio of 5.34 and a beta of 0.74.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $5.94 billion. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The company’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. Equities analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.00 annualized dividend and a dividend yield of 4.9%. Rogers Communication’s dividend payout ratio (DPR) is 15.46%.

Wall Street Analysts Forecast Growth

RCI has been the topic of a number of analyst reports. TD Securities reissued a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a report on Monday, January 12th. TD Cowen reaffirmed a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Desjardins downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.