Shell Asset Management Co. Trims Position in Rogers Communications Inc. (RCI)

Shell Asset Management Co. reduced its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 176,000 shares of the Wireless communications provider’s stock after selling 36,952 shares during the quarter. Shell Asset Management Co.’s holdings in Rogers Communications were worth $8,997,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Trexquant Investment LP bought a new position in Rogers Communications in the third quarter worth $205,000. Fort Pitt Capital Group LLC bought a new position in Rogers Communications in the third quarter worth $211,000. Cumberland Partners Ltd bought a new position in Rogers Communications in the third quarter worth $245,000. OxFORD Asset Management LLP lifted its position in Rogers Communications by 11.8% in the second quarter. OxFORD Asset Management LLP now owns 8,138 shares of the Wireless communications provider’s stock worth $384,000 after purchasing an additional 857 shares during the period. Finally, Dean Capital Investments Management LLC bought a new position in Rogers Communications in the fourth quarter worth $485,000. 47.73% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on RCI. Zacks Investment Research raised Rogers Communications from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Barclays reaffirmed a “hold” rating and issued a $55.00 target price on shares of Rogers Communications in a research report on Friday, January 26th. National Bank Financial cut Rogers Communications from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 26th. Desjardins raised Rogers Communications from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Bank of America began coverage on Rogers Communications in a research report on Tuesday, November 21st. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $62.75.

Rogers Communications Inc. (NYSE RCI) opened at $46.11 on Friday. The stock has a market capitalization of $23,737.89, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.94 and a beta of 0.86. Rogers Communications Inc. has a twelve month low of $41.33 and a twelve month high of $54.95. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.39 and a current ratio of 0.44.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 25th. The Wireless communications provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Rogers Communications had a return on equity of 30.65% and a net margin of 12.09%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. equities research analysts anticipate that Rogers Communications Inc. will post 3.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 12th will be issued a dividend of $0.3843 per share. The ex-dividend date is Friday, March 9th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.33%. Rogers Communications’s payout ratio is presently 59.77%.

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Rogers Communications Company Profile

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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