Beutel Goodman & Co Ltd. reduced its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,715,865 shares of the Wireless communications provider's stock after selling 1,206,474 shares during the quarter. Rogers Communications comprises approximately 2.0% of Beutel Goodman & Co Ltd.'s holdings, making the stock its 19th largest position. Beutel Goodman & Co Ltd. owned 2.19% of Rogers Communications worth $359,980,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Rogers Communications by 106.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider's stock worth $5,383,000 after acquiring an additional 68,971 shares during the last quarter. Citigroup Inc. grew its position in Rogers Communications by 7.1% during the 3rd quarter. Citigroup Inc. now owns 340,684 shares of the Wireless communications provider's stock valued at $13,714,000 after purchasing an additional 22,660 shares during the last quarter. FMR LLC increased its stake in Rogers Communications by 2.8% during the 3rd quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider's stock valued at $100,372,000 after purchasing an additional 68,759 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Rogers Communications by 107.3% in the third quarter. BNP Paribas Financial Markets now owns 37,436 shares of the Wireless communications provider's stock worth $1,505,000 after buying an additional 19,378 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new position in shares of Rogers Communications in the third quarter worth approximately $305,000. Hedge funds and other institutional investors own 45.49% of the company's stock.
Rogers Communications Stock Performance
Shares of Rogers Communications stock traded down $1.44 on Tuesday, hitting $25.30. 3,169,119 shares of the company's stock were exchanged, compared to its average volume of 979,075. Rogers Communications Inc. has a 1 year low of $24.77 and a 1 year high of $41.84. The company has a 50-day simple moving average of $27.94 and a 200-day simple moving average of $32.74. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a market capitalization of $13.56 billion, a PE ratio of 10.90, a PEG ratio of 1.43 and a beta of 0.67.
Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. As a group, equities analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.
Rogers Communications Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be issued a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications's dividend payout ratio is 59.48%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on RCI. Barclays restated an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. Morgan Stanley began coverage on Rogers Communications in a research note on Monday, December 16th. They issued an "underweight" rating for the company. Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Finally, Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $61.75.
Get Our Latest Report on RCI
Rogers Communications Company Profile
(
Free Report)
Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.
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