DORCHESTER WEALTH MANAGEMENT Co Boosts Position in Rogers Communications Inc. (NYSE:RCI)

DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 30.1% during the fourth quarter, Holdings Channel reports. The firm owned 317,971 shares of the Wireless communications provider’s stock after buying an additional 73,618 shares during the quarter. Rogers Communications comprises approximately 1.9% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 17th biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Rogers Communications were worth $9,693,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in 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 worth $203,334,000 after purchasing an additional 3,980,525 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 worth $5,383,000 after purchasing an additional 68,971 shares in the last quarter. Avanza Fonder AB purchased a new stake in Rogers Communications during the fourth quarter worth $718,000. MQS Management LLC purchased a new stake in Rogers Communications during the third quarter worth $726,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in 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 worth $24,101,000 after purchasing an additional 547,201 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Rogers Communications Stock Up 0.5 %

Shares of NYSE:RCI opened at $28.19 on Friday. 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 $45.93. The stock’s fifty day simple moving average is $29.12 and its 200-day simple moving average is $35.04. The company has a market capitalization of $15.06 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.43 and a beta of 0.68.

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, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. As a group, equities research analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be paid a $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 4.92%. Rogers Communications’s payout ratio is currently 59.05%.

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.