Scotia Capital Inc. Increases Position in Rogers Communications Inc. (NYSE:RCI)

Scotia Capital Inc. boosted its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 18.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,697,645 shares of the Wireless communications provider's stock after acquiring an additional 572,270 shares during the quarter. Scotia Capital Inc. owned 0.69% of Rogers Communications worth $113,217,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in shares of Rogers Communications by 95.1% in the fourth 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 boosted its holdings in Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after buying an additional 1,052 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Rogers Communications by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after buying an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock worth $178,000 after buying an additional 930 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Rogers Communications during the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Trading Down 2.3 %

RCI stock traded down $0.57 during midday trading on Tuesday, hitting $24.64. 319,217 shares of the company's stock were exchanged, compared to its average volume of 1,010,951. Rogers Communications Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The stock has a market capitalization of $13.21 billion, a PE ratio of 10.62, a P/E/G ratio of 1.43 and a beta of 0.67. The business has a 50-day simple moving average of $27.08 and a two-hundred day simple moving average of $31.48.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, topping 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, sell-side analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were issued a dividend of $0.347 per share. The ex-dividend date was Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 5.63%. Rogers Communications's dividend payout ratio (DPR) is presently 59.48%.

Wall Street Analyst Weigh In

RCI has been the subject of several research reports. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Morgan Stanley began coverage on shares of Rogers Communications in a research 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. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Finally, Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of "Hold" and an average target price of $67.00.

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.