Zimmer Partners LP Sells 269,000 Shares of Rogers Communications Inc. (NYSE:RCI)

Zimmer Partners LP lowered its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 91.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the Wireless communications provider's stock after selling 269,000 shares during the quarter. Zimmer Partners LP's holdings in Rogers Communications were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cromwell Holdings LLC acquired a new stake in Rogers Communications in the 3rd quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider's stock worth $37,000 after buying an additional 522 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Rogers Communications during the 2nd quarter worth $37,000. Grove Bank & Trust grew its stake in Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after buying an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Rogers Communications in the 2nd quarter worth $55,000. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communications Stock Performance

Rogers Communications stock traded down $0.96 during mid-day trading on Friday, reaching $35.15. The company had a trading volume of 790,961 shares, compared to its average volume of 1,174,080. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.11 and a beta of 0.67. The company has a 50 day moving average of $37.07 and a 200-day moving average of $38.28. Rogers Communications Inc. has a 52 week low of $34.83 and a 52 week high of $48.19.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $3.79 billion. During the same quarter last year, the company earned $0.95 earnings per share. The firm's revenue was up .7% on a year-over-year basis. On average, sell-side analysts expect that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Monday, December 9th. Rogers Communications's payout ratio is presently 71.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Securities upped their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, September 19th. BMO Capital Markets boosted their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Rogers Communications currently has a consensus rating of "Moderate Buy" and an average price target of $61.75.

Rogers Communications 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.