Forsta AP Fonden Trims Stock Position in Rogers Communication, Inc. $RCI

Forsta AP Fonden cut its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 28.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,400 shares of the Wireless communications provider’s stock after selling 24,600 shares during the quarter. Forsta AP Fonden’s holdings in Rogers Communication were worth $2,359,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RCI. Invesco Ltd. raised its stake in Rogers Communication by 52.3% during the second quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider’s stock worth $27,724,000 after purchasing an additional 321,124 shares during the period. EverSource Wealth Advisors LLC raised 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 period. Marshall Wace LLP raised its stake in Rogers Communication by 36.5% during the second quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider’s stock worth $1,103,000 after purchasing an additional 9,951 shares during the period. Cerity Partners LLC raised its stake in Rogers Communication by 7.0% during the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock worth $326,000 after purchasing an additional 724 shares during the period. Finally, AXA S.A. raised its stake in Rogers Communication by 231.1% during the second quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider’s stock worth $1,481,000 after purchasing an additional 34,860 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RCI shares. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. TD Securities downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Desjardins restated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Performance

Shares of RCI opened at $38.20 on Wednesday. The company has a 50-day simple moving average of $36.11 and a 200-day simple moving average of $37.24. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $20.64 billion, a PE ratio of 4.03, a P/E/G ratio of 3.46 and a beta of 0.62. Rogers Communication, Inc. has a 52-week low of $26.30 and a 52-week high of $41.14.

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

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 9th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is presently 15.51%.

About Rogers Communication

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.