Lorne Steinberg Wealth Management Inc. Buys 9,876 Shares of Rogers Communications Inc. (NYSE:RCI)

Lorne Steinberg Wealth Management Inc. raised its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,011 shares of the Wireless communications provider's stock after acquiring an additional 9,876 shares during the quarter. Lorne Steinberg Wealth Management Inc.'s holdings in Rogers Communications were worth $3,102,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RCI. Cromwell Holdings LLC bought a new position in shares of Rogers Communications during the third quarter worth approximately $31,000. V Square Quantitative Management LLC increased its holdings in shares of Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock worth $178,000 after purchasing an additional 930 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Rogers Communications during the third quarter worth approximately $206,000. Tidal Investments LLC bought a new position in shares of Rogers Communications during the third quarter worth approximately $248,000. Finally, Signaturefd LLC increased its holdings in shares of Rogers Communications by 11.1% during the third quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider's stock worth $266,000 after purchasing an additional 664 shares during the period. 45.49% of the stock is owned by institutional investors.

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Rogers Communications Price Performance

Shares of NYSE RCI traded up $0.15 during trading hours on Friday, hitting $28.19. 964,511 shares of the stock were exchanged, compared to its average volume of 1,212,691. 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 company has a market cap of $15.06 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. The company's fifty day simple moving average is $29.12 and its two-hundred day simple moving average is $35.04. Rogers Communications Inc. has a 1-year low of $26.57 and a 1-year high of $45.93.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. On average, sell-side analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a $0.347 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 4.92%. Rogers Communications's dividend payout ratio is currently 60.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. Morgan Stanley initiated coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an "underweight" rating on the stock. Finally, Bank of America lowered shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.