Louisbourg Investments Inc. Sells 134,932 Shares of Rogers Communication, Inc. $RCI

Louisbourg Investments Inc. cut its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 51.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,901 shares of the Wireless communications provider’s stock after selling 134,932 shares during the period. Louisbourg Investments Inc.’s holdings in Rogers Communication were worth $4,871,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in Rogers Communication by 6.0% in 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 in the last quarter. Monarch Capital Management Inc. lifted its position in Rogers Communication by 0.6% during the first quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock worth $2,299,000 after purchasing an additional 360 shares during the period. Farther Finance Advisors LLC grew its stake in Rogers Communication by 107.4% during 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 in the last quarter. Orion Porfolio Solutions LLC grew its stake in Rogers Communication by 6.5% during the fourth quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the Wireless communications provider’s stock worth $297,000 after buying an additional 479 shares in the last quarter. Finally, Gold Investment Management Ltd. increased its holdings in Rogers Communication by 1.7% in the 4th quarter. Gold Investment Management Ltd. now owns 29,721 shares of the Wireless communications provider’s stock valued at $1,122,000 after buying an additional 488 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communication Stock Up 0.2%

Shares of NYSE RCI opened at $34.87 on Friday. The company has a market cap of $18.84 billion, a price-to-earnings ratio of 3.68, a PEG ratio of 3.13 and a beta of 0.62. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. Rogers Communication, Inc. has a 12 month low of $28.95 and a 12 month high of $41.14. The stock has a 50-day moving average price of $36.67 and a two-hundred day moving average price of $37.11.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.Rogers Communication’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. As a group, analysts forecast that Rogers Communication, Inc. will post 3.47 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.7%. Rogers Communication’s dividend payout ratio is currently 15.30%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RCI. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, June 17th. Scotiabank upgraded shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Finally, TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company 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.