Rogers Communications Inc. (NYSE:RCI) Shares Bought by Canoe Financial LP

Canoe Financial LP increased its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 14.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,299,311 shares of the Wireless communications provider's stock after purchasing an additional 166,224 shares during the quarter. Canoe Financial LP owned 0.24% of Rogers Communications worth $39,916,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. 1832 Asset Management L.P. grew its position in shares of Rogers Communications by 2.6% in the second quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider's stock valued at $425,341,000 after purchasing an additional 288,614 shares during the period. Mackenzie Financial Corp lifted its stake in Rogers Communications by 10.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider's stock valued at $390,738,000 after buying an additional 974,937 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Rogers Communications by 53.9% in the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider's stock worth $233,099,000 after buying an additional 2,206,690 shares during the last quarter. National Bank of Canada FI increased its stake in Rogers Communications by 18.6% during the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider's stock worth $250,886,000 after buying an additional 977,924 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider's stock valued at $203,334,000 after acquiring an additional 3,980,525 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Trading Down 1.0 %

Shares of NYSE:RCI traded down $0.30 during mid-day trading on Friday, reaching $28.19. 773,024 shares of the company were exchanged, compared to its average volume of 992,225. Rogers Communications Inc. has a 1 year low of $27.63 and a 1 year high of $48.19. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. The firm's 50-day simple moving average is $32.81 and its 200 day simple moving average is $36.71. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 0.91 and a beta of 0.69.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the company earned $0.95 EPS. Rogers Communications's revenue was up .7% on a year-over-year basis. Equities research analysts forecast that Rogers Communications Inc. will post 3.52 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend was Monday, December 9th. Rogers Communications's dividend payout ratio (DPR) is presently 68.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RCI shares. Morgan Stanley began coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an "underweight" rating for the company. Bank of America cut shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $61.75.

Rogers Communications Company Profile

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.