Platinum Investment Management Ltd. Lowers Position in Rogers Communication, Inc. $RCI

Platinum Investment Management Ltd. lowered its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 91.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,160 shares of the Wireless communications provider’s stock after selling 1,556,894 shares during the period. Rogers Communication makes up 1.3% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 22nd largest position. Platinum Investment Management Ltd.’s holdings in Rogers Communication were worth $5,562,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp raised its position in Rogers Communication by 6.0% during the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock valued at $203,000 after purchasing an additional 334 shares during the period. Farther Finance Advisors LLC raised its holdings 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 worth $30,000 after buying an additional 407 shares during the period. Orion Porfolio Solutions LLC increased its holdings in Rogers Communication by 6.5% during the 4th quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the Wireless communications provider’s stock worth $297,000 after purchasing an additional 479 shares during the period. Gold Investment Management Ltd. increased its holdings in Rogers Communication by 1.7% during the 4th quarter. Gold Investment Management Ltd. now owns 29,721 shares of the Wireless communications provider’s stock worth $1,122,000 after purchasing an additional 488 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in Rogers Communication by 1.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock worth $1,101,000 after purchasing an additional 640 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Stock Performance

Shares of RCI opened at $38.54 on Friday. The stock has a 50-day moving average of $36.03 and a two-hundred day moving average of $37.23. Rogers Communication, Inc. has a one year low of $27.20 and a one year high of $41.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. The stock has a market cap of $20.82 billion, a P/E ratio of 4.07, a P/E/G ratio of 3.41 and a beta of 0.62.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations 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 firm posted $0.99 EPS. As a group, research analysts predict that Rogers Communication, Inc. will post 3.55 EPS for the current year.

Rogers Communication Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Tuesday, June 9th. Rogers Communication’s payout ratio is currently 15.30%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RCI. TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Finally, Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.00.

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.