Cumberland Partners Ltd Sells 700 Shares of Rogers Communications Inc. (NYSE:RCI)

Cumberland Partners Ltd cut its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 8.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,280 shares of the Wireless communications provider’s stock after selling 700 shares during the period. Cumberland Partners Ltd’s holdings in Rogers Communications were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of RCI. Cromwell Holdings LLC bought a new stake in Rogers Communications in the 3rd quarter valued at $31,000. V Square Quantitative Management LLC boosted its holdings in 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. Y Intercept Hong Kong Ltd bought a new stake in Rogers Communications in the 3rd quarter valued at $206,000. Tidal Investments LLC bought a new stake in Rogers Communications in the 3rd quarter valued at $248,000. Finally, Signaturefd LLC boosted its holdings in Rogers Communications by 11.1% in the 3rd quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider’s stock valued at $266,000 after purchasing an additional 664 shares during the period. 45.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RCI. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating for the company. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Price Performance

NYSE:RCI opened at $28.01 on Friday. The company has a 50-day moving average of $29.23 and a 200-day moving average of $35.13. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.42 and a beta of 0.68. Rogers Communications Inc. has a 52 week low of $26.57 and a 52 week high of $45.93. 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) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, equities research analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be issued a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is currently 60.78%.

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.