Rogers Communications Inc. (NYSE:RCI) Short Interest Update

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 7,490,000 shares, an increase of 34.5% from the January 31st total of 5,570,000 shares. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is currently 6.4 days. Currently, 2.0% of the shares of the company are short sold.

Rogers Communications Stock Performance

NYSE:RCI traded up $0.02 during mid-day trading on Friday, reaching $28.38. The stock had a trading volume of 1,398,777 shares, compared to its average volume of 860,496. Rogers Communications has a twelve month low of $26.57 and a twelve month high of $44.38. The business has a 50 day simple moving average of $28.61 and a 200 day simple moving average of $34.34. The firm has a market capitalization of $15.17 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.43 and a beta of 0.68. 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 posted its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. On average, analysts expect that Rogers Communications will post 3.57 earnings per share for the current fiscal year.

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Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a dividend of $0.347 per share. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.89%. Rogers Communications's dividend payout ratio (DPR) is presently 59.05%.

Hedge Funds Weigh In On Rogers Communications

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider's stock worth $203,334,000 after buying an additional 3,980,525 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Rogers Communications by 123.5% during 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 acquiring an additional 3,717,487 shares in the last quarter. FIL Ltd grew its holdings in shares of Rogers Communications by 7.2% in the 4th 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 period. Massachusetts Financial Services Co. MA increased its stake in Rogers Communications by 90.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider's stock valued at $115,775,000 after purchasing an additional 1,375,043 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in Rogers Communications by 20.6% during the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after purchasing an additional 1,320,200 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RCI. Morgan Stanley assumed coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an "underweight" rating for the company. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.