Rogers Communications Inc. (NYSE:RCI) Short Interest Update

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 7,490,000 shares, a growth of 34.5% from the January 31st total of 5,570,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 6.4 days.

Rogers Communications Price Performance

RCI opened at $27.62 on Tuesday. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. Rogers Communications has a fifty-two week low of $26.57 and a fifty-two week high of $44.53. The company’s 50-day moving average price is $28.77 and its 200 day moving average price is $34.52. 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 (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, sell-side analysts expect that Rogers Communications will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be issued a $0.347 dividend. This represents a $1.39 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is presently 59.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. boosted its holdings in shares of Rogers Communications by 239.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider’s stock valued at $1,306,000 after acquiring an additional 29,982 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Rogers Communications by 280.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider’s stock valued at $7,428,000 after acquiring an additional 178,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Rogers Communications by 7.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 749,464 shares of the Wireless communications provider’s stock valued at $23,031,000 after acquiring an additional 53,208 shares in the last quarter. Twinbeech Capital LP boosted its holdings in shares of Rogers Communications by 235.5% in the fourth quarter. Twinbeech Capital LP now owns 28,844 shares of the Wireless communications provider’s stock valued at $886,000 after acquiring an additional 20,246 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Rogers Communications by 198.3% in the fourth quarter. Tidal Investments LLC now owns 18,431 shares of the Wireless communications provider’s stock valued at $566,000 after acquiring an additional 12,253 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RCI. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.75.

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.