Valley National Advisers Inc. trimmed its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 20.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,417 shares of the Wireless communications provider’s stock after selling 357 shares during the period. Valley National Advisers Inc.’s holdings in Rogers Communications were worth $76,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC bought a new position in Rogers Communications during the fourth quarter worth about $32,000. We Are One Seven LLC bought a new position in Rogers Communications during the fourth quarter worth about $37,000. Enlightenment Research LLC bought a new position in Rogers Communications during the fourth quarter worth about $46,000. Van ECK Associates Corp bought a new position in Rogers Communications during the fourth quarter worth about $72,000. Finally, Quadrant Capital Group LLC grew its holdings in Rogers Communications by 157.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,710 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 1,047 shares during the period. Institutional investors and hedge funds own 44.69% of the company’s stock.
A number of equities research analysts have recently issued reports on RCI shares. TD Securities cut Rogers Communications to a “buy” rating in a report on Wednesday, February 6th. ValuEngine upgraded Rogers Communications from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Monday, January 28th. Echelon Wealth Partners reiterated a “buy” rating on shares of Rogers Communications in a research note on Friday, January 25th. Finally, Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Rogers Communications has an average rating of “Hold” and a consensus target price of $54.68.
NYSE RCI traded up $0.30 on Wednesday, reaching $52.43. The company had a trading volume of 332,864 shares, compared to its average volume of 402,459. The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $26.30 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 3.01 and a beta of 0.66. Rogers Communications Inc. has a fifty-two week low of $46.16 and a fifty-two week high of $55.93.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Rogers Communications had a net margin of 13.47% and a return on equity of 27.28%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Research analysts expect that Rogers Communications Inc. will post 3.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be given a dividend of $0.3753 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.86%. Rogers Communications’s dividend payout ratio (DPR) is presently 45.37%.
About Rogers Communications
Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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