Rogers Communications Inc. (NYSE:RCI) Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 68.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,526 shares of the Wireless communications provider's stock after buying an additional 128,280 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of Rogers Communications worth $9,684,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. FIL Ltd grew its position in shares of Rogers Communications by 7.2% during the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after acquiring an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia boosted its stake in Rogers Communications by 20.6% during the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock valued at $237,784,000 after purchasing an additional 1,320,200 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Rogers Communications by 123.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after purchasing an additional 3,717,487 shares during the last quarter. Scotia Capital Inc. increased its stake in shares of Rogers Communications by 18.3% in the fourth quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock valued at $113,217,000 after purchasing an additional 572,270 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Rogers Communications by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,914,155 shares of the Wireless communications provider's stock valued at $89,552,000 after buying an additional 17,666 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCI has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. Barclays restated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Scotiabank lowered shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Rogers Communications currently has a consensus rating of "Hold" and a consensus target price of $67.00.

Rogers Communications Stock Down 0.4 %

RCI opened at $25.15 on Monday. The stock's fifty day moving average is $26.68 and its 200-day moving average is $30.63. Rogers Communications Inc. has a one year low of $23.18 and a one year high of $41.84. The company has a market capitalization of $13.48 billion, a PE ratio of 10.84, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $4.96 billion. On average, equities analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.74%. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date is Monday, June 9th. Rogers Communications's dividend payout ratio (DPR) is presently 59.66%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.