Louisbourg Investments Inc. Buys 2,033 Shares of Rogers Communications Inc. (NYSE:RCI)

Louisbourg Investments Inc. grew its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,503 shares of the Wireless communications provider’s stock after purchasing an additional 2,033 shares during the period. Rogers Communications makes up about 1.6% of Louisbourg Investments Inc.’s portfolio, making the stock its 15th biggest position. Louisbourg Investments Inc.’s holdings in Rogers Communications were worth $6,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of RCI. PNC Financial Services Group Inc. increased its holdings in shares of Rogers Communications by 4.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock valued at $436,000 after acquiring an additional 571 shares during the period. State of Tennessee Department of Treasury increased its holdings in shares of Rogers Communications by 0.3% in the 4th quarter. State of Tennessee Department of Treasury now owns 218,308 shares of the Wireless communications provider’s stock valued at $6,708,000 after acquiring an additional 720 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Rogers Communications by 95.1% in 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 period. V Square Quantitative Management LLC increased its holdings in shares of 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 acquiring an additional 930 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Rogers Communications by 141.4% in 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 period. 45.49% of the stock is owned by institutional investors.

Rogers Communications Stock Performance

Shares of RCI opened at $27.91 on Tuesday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a 50-day moving average of $25.84 and a two-hundred day moving average of $27.96. The stock has a market cap of $14.96 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a one year low of $23.18 and a one year high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, research analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.35. Rogers Communications’s payout ratio is presently 62.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RCI shares. Scotiabank downgraded Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, April 1st. Canaccord Genuity Group upgraded Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday, April 4th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.00.

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.