Addenda Capital Inc. Sells 17,166 Shares of Rogers Communication, Inc. $RCI

Addenda Capital Inc. cut its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,989 shares of the Wireless communications provider’s stock after selling 17,166 shares during the period. Addenda Capital Inc.’s holdings in Rogers Communication were worth $6,565,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC lifted its stake in Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Rogers Communication in the third quarter valued at about $58,000. Advisory Services Network LLC purchased a new position in shares of Rogers Communication in the third quarter valued at about $63,000. Danske Bank A S purchased a new position in shares of Rogers Communication in the third quarter valued at about $64,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after acquiring an additional 683 shares during the period. 45.49% of the stock is owned by institutional investors.

Rogers Communication Price Performance

Shares of NYSE RCI opened at $33.16 on Thursday. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. The company’s 50-day moving average is $38.26 and its 200 day moving average is $37.52. The stock has a market capitalization of $17.91 billion, a P/E ratio of 3.58, a P/E/G ratio of 4.65 and a beta of 0.72.

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

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $2.00 annualized dividend and a yield of 6.0%. Rogers Communication’s payout ratio is presently 15.89%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. TD Cowen restated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.