Scheer Rowlett & Associates Investment Management Ltd. Acquires 280,779 Shares of Rogers Communications Inc. (NYSE:RCI)

Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 24.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,443,877 shares of the Wireless communications provider’s stock after acquiring an additional 280,779 shares during the quarter. Rogers Communications makes up about 3.2% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 13th biggest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Rogers Communications were worth $44,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tacita Capital Inc increased its stake in Rogers Communications by 102.0% in the 3rd quarter. Tacita Capital Inc now owns 7,412 shares of the Wireless communications provider’s stock worth $298,000 after buying an additional 3,742 shares during the period. Entropy Technologies LP purchased a new position in shares of Rogers Communications during the third quarter valued at $314,000. Aigen Investment Management LP raised its holdings in shares of Rogers Communications by 29.7% in the 3rd quarter. Aigen Investment Management LP now owns 29,915 shares of the Wireless communications provider’s stock valued at $1,203,000 after purchasing an additional 6,851 shares in the last quarter. MQS Management LLC bought a new position in Rogers Communications in the third quarter worth approximately $726,000. Finally, CIBC Asset Management Inc raised its position in shares of Rogers Communications by 10.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,673,110 shares of the Wireless communications provider’s stock worth $67,301,000 after acquiring an additional 159,295 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Up 0.1 %

Rogers Communications stock opened at $28.38 on Friday. Rogers Communications Inc. has a 12 month low of $26.57 and a 12 month high of $44.38. The stock has a market capitalization of $15.17 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The business has a 50 day simple moving average of $28.57 and a 200-day simple moving average of $34.26.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share 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%. On average, analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared 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. This represents a $1.39 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RCI shares. Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. 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 company’s stock. According to data from MarketBeat.com, Rogers Communications currently has an average rating of “Hold” and an average price target of $61.75.

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.