Investors Research Corp Reduces Holdings in Rogers Communications Inc. (NYSE:RCI)

Investors Research Corp lowered its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 25.9% during the fourth quarter, HoldingsChannel reports. The firm owned 11,945 shares of the Wireless communications provider’s stock after selling 4,175 shares during the period. Investors Research Corp’s holdings in Rogers Communications were worth $367,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of 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 valued at $203,334,000 after purchasing an additional 3,980,525 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Rogers Communications by 106.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock valued at $5,383,000 after purchasing an additional 68,971 shares during the period. Avanza Fonder AB purchased a new stake in shares of Rogers Communications during the fourth quarter valued at approximately $718,000. MQS Management LLC purchased a new stake in shares of Rogers Communications during the third quarter valued at approximately $726,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Rogers Communications by 1,046.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after purchasing an additional 547,201 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Rogers Communications Stock Performance

Rogers Communications stock opened at $27.96 on Tuesday. The company has a market cap of $14.94 billion, a PE ratio of 12.05, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a fifty day moving average price of $28.52 and a two-hundred day moving average price of $34.10. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications Inc. has a 12 month low of $26.57 and a 12 month high of $44.38.

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%. Research analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be issued a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

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.