CenterBook Partners LP Reduces Holdings in Rogers Communications Inc. (NYSE:RCI)

CenterBook Partners LP decreased its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 56.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,028 shares of the Wireless communications provider's stock after selling 51,017 shares during the quarter. CenterBook Partners LP's holdings in Rogers Communications were worth $1,827,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Rogers Communications by 120.1% in the fourth quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider's stock valued at $31,000 after acquiring an additional 359 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Rogers Communications by 120.8% during the fourth quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider's stock worth $43,000 after acquiring an additional 499 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Rogers Communications during the fourth quarter worth about $51,000. EverSource Wealth Advisors LLC increased its holdings in Rogers Communications by 106.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider's stock valued at $68,000 after buying an additional 745 shares during the last quarter. Finally, Tacita Capital Inc increased its holdings in Rogers Communications by 35.6% in the third quarter. Tacita Capital Inc now owns 2,935 shares of the Wireless communications provider's stock valued at $113,000 after buying an additional 770 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Wall Street Analyst Weigh In

RCI has been the subject of a number of research reports. Barclays decreased their target price on Rogers Communications from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 10th. StockNews.com upgraded Rogers Communications from a "sell" rating to a "hold" rating in a research report on Friday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.00.

Rogers Communications Stock Down 1.1 %

Shares of Rogers Communications stock traded down $0.43 on Friday, hitting $39.14. 601,479 shares of the company traded hands, compared to its average volume of 975,035. The company has a 50-day moving average price of $39.11 and a 200 day moving average price of $43.06. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a 12-month low of $36.55 and a 12-month high of $48.19. The company has a market cap of $20.74 billion, a PE ratio of 48.93, a PEG ratio of 1.05 and a beta of 0.68.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. The firm had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.64 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. Sell-side analysts predict that Rogers Communications Inc. will post 3.64 earnings per share for the current year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.3658 per share. This represents a $1.46 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications's dividend payout ratio (DPR) is 183.75%.

About Rogers Communications

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.