Louisbourg Investments Inc. Buys 39,156 Shares of Rogers Communications Inc. (NYSE:RCI)

Louisbourg Investments Inc. grew its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 18.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,470 shares of the Wireless communications provider's stock after acquiring an additional 39,156 shares during the period. Rogers Communications accounts for approximately 1.8% of Louisbourg Investments Inc.'s holdings, making the stock its 15th largest position. Louisbourg Investments Inc.'s holdings in Rogers Communications were worth $7,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cromwell Holdings LLC acquired a new stake in shares of Rogers Communications in the third quarter valued at about $31,000. Grove Bank & Trust increased its position in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 302 shares during the last quarter. Nexus Investment Management ULC acquired a new stake in shares of Rogers Communications in the third quarter valued at about $203,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Rogers Communications in the third quarter valued at about $206,000. Finally, Tidal Investments LLC acquired a new stake in shares of Rogers Communications in the third quarter valued at about $248,000. Institutional investors and hedge funds own 45.49% of the company's stock.

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Rogers Communications Stock Performance

NYSE RCI traded down $0.23 during trading on Friday, reaching $28.04. 833,101 shares of the company's stock were exchanged, compared to its average volume of 1,233,312. The business has a 50 day moving average price of $29.73 and a 200-day moving average price of $35.42. The stock has a market capitalization of $14.98 billion, a P/E ratio of 12.08, a PEG ratio of 1.37 and a beta of 0.68. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications Inc. has a fifty-two week low of $26.57 and a fifty-two week high of $45.93.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Sell-side analysts forecast that Rogers Communications Inc. will post 3.58 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be issued a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications's dividend payout ratio is presently 60.78%.

Analyst Ratings Changes

A number of research firms recently issued reports on RCI. Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Morgan Stanley started coverage on Rogers Communications in a research report on Monday, December 16th. They set an "underweight" rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.