Rogers Communications Inc. (NYSE:RCI) Position Lessened by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. lowered its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 84.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,710 shares of the Wireless communications provider's stock after selling 208,820 shares during the period. PCJ Investment Counsel Ltd.'s holdings in Rogers Communications were worth $1,188,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its position in shares of Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock valued at $47,000 after purchasing an additional 744 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Rogers Communications by 141.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after purchasing an additional 1,052 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Rogers Communications during the third quarter valued at about $206,000. V Square Quantitative Management LLC grew its stake in shares of Rogers Communications by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock valued at $178,000 after purchasing an additional 930 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of Rogers Communications in the 3rd quarter valued at approximately $248,000. Institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Performance

RCI stock opened at $28.38 on Friday. The business's fifty day moving average is $28.57 and its 200-day moving average is $34.26. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The company has a market cap of $15.17 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $44.38.

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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 for the quarter, beating 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%. Equities research analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be given a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Monday, March 10th. Rogers Communications's dividend payout ratio is currently 59.05%.

Analysts Set New Price Targets

Several brokerages have recently commented on RCI. Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Morgan Stanley assumed coverage on Rogers Communications in a report on Monday, December 16th. They set an "underweight" rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently 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.

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