Canoe Financial LP Has $42.99 Million Stake in Rogers Communication, Inc. $RCI

Canoe Financial LP lowered its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,138,837 shares of the Wireless communications provider’s stock after selling 258,074 shares during the quarter. Canoe Financial LP owned about 0.21% of Rogers Communication worth $42,990,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Mirabella Financial Services LLP acquired a new stake in Rogers Communication in the third quarter worth $2,090,000. FNY Investment Advisers LLC acquired a new position in shares of Rogers Communication during the third quarter valued at about $58,000. CIBC Bancorp USA Inc. bought a new position in shares of Rogers Communication during the 3rd quarter worth about $280,000. Achmea Investment Management B.V. bought a new position in shares of Rogers Communication during the 3rd quarter worth about $1,737,000. Finally, Danske Bank A S acquired a new stake in shares of Rogers Communication in the 3rd quarter valued at about $64,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on RCI. TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Wall Street Zen cut Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. Finally, TD Cowen reissued a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Trading Down 1.1%

Shares of RCI stock opened at $38.51 on Friday. The company’s fifty day simple moving average is $38.40 and its two-hundred day simple moving average is $37.52. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.14. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of 4.16, a PEG ratio of 5.09 and a beta of 0.74.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $4.49 billion during 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 business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. As a group, analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $2.00 annualized dividend and a yield of 5.2%. Rogers Communication’s dividend payout ratio (DPR) is currently 15.78%.

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.