Monarch Capital Management Inc. Purchases 9,875 Shares of Rogers Communications Inc. (NYSE:RCI)

Monarch Capital Management Inc. increased its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,013 shares of the Wireless communications provider's stock after buying an additional 9,875 shares during the period. Monarch Capital Management Inc.'s holdings in Rogers Communications were worth $1,515,000 as of its most recent SEC filing.

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

Rogers Communications Price Performance

Shares of RCI stock traded down $0.30 on Friday, reaching $28.19. The company's stock had a trading volume of 773,024 shares, compared to its average volume of 992,225. The company has a market capitalization of $15.07 billion, a P/E ratio of 13.75, a PEG ratio of 0.91 and a beta of 0.69. Rogers Communications Inc. has a 12-month low of $27.63 and a 12-month high of $48.19. The stock's 50 day simple moving average is $32.81 and its 200-day simple moving average is $36.71. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company's revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. As a group, equities analysts predict that Rogers Communications Inc. will post 3.52 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date was Monday, December 9th. Rogers Communications's payout ratio is 68.78%.

Analyst Ratings Changes

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

Rogers Communications 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.