Brandes Investment Partners LP Raises Stock Position in Rogers Communications Inc. (NYSE:RCI)

Brandes Investment Partners LP increased its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 24.1% in the 4th quarter, HoldingsChannel reports. The firm owned 60,452 shares of the Wireless communications provider’s stock after acquiring an additional 11,734 shares during the quarter. Brandes Investment Partners LP’s holdings in Rogers Communications were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RCI. Entropy Technologies LP purchased a new position in shares of Rogers Communications during the third quarter worth $314,000. Natixis Advisors LLC raised its holdings in shares of Rogers Communications by 16.6% during the third quarter. Natixis Advisors LLC now owns 24,948 shares of the Wireless communications provider’s stock worth $1,003,000 after purchasing an additional 3,547 shares during the last quarter. Swiss National Bank raised its holdings in shares of Rogers Communications by 0.8% during the third quarter. Swiss National Bank now owns 1,080,000 shares of the Wireless communications provider’s stock worth $43,494,000 after purchasing an additional 8,400 shares during the last quarter. PCJ Investment Counsel Ltd. raised its holdings in shares of Rogers Communications by 2.9% during the third quarter. PCJ Investment Counsel Ltd. now owns 247,530 shares of the Wireless communications provider’s stock worth $9,952,000 after purchasing an additional 7,050 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Rogers Communications by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after purchasing an additional 1,211,482 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

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

Rogers Communications Stock Up 0.4 %

RCI stock opened at $27.96 on Friday. The stock has a market capitalization of $14.94 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.43 and a beta of 0.67. The firm has a 50-day simple moving average of $28.31 and a 200-day simple moving average of $33.78. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a 52 week low of $26.57 and a 52 week high of $42.96.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results 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%. Equities analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced 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 4.96%. Rogers Communications’s dividend payout ratio is currently 59.48%.

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.