Tobam Sells 6,384 Shares of Rogers Communications Inc. (NYSE:RCI)

Tobam reduced its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 79.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,611 shares of the Wireless communications provider’s stock after selling 6,384 shares during the quarter. Tobam’s holdings in Rogers Communications were worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RCI. Lindbrook Capital LLC boosted its position in shares of Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 744 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Rogers Communications by 141.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after acquiring an additional 1,052 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Rogers Communications during the 1st quarter valued at approximately $79,000. Headlands Technologies LLC boosted its position in shares of Rogers Communications by 274.2% during the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock valued at $163,000 after acquiring an additional 3,888 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Rogers Communications by 19.1% in the fourth 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 during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Down 0.1%

NYSE:RCI opened at $27.64 on Friday. Rogers Communications Inc. has a twelve month low of $23.18 and a twelve month high of $41.84. The company has a market cap of $14.82 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.43 and a beta of 0.73. The stock has a fifty day simple moving average of $25.76 and a 200-day simple moving average of $28.11. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be issued a $0.3611 dividend. This is an increase from Rogers Communications’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Monday, June 9th. Rogers Communications’s payout ratio is presently 62.23%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank downgraded Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Rogers Communications presently has an average rating of “Hold” and an average price target of $67.00.

Rogers Communications Company 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.