Everett Harris & Co. CA Decreases Position in Rogers Communications Inc. (NYSE:RCI)

Everett Harris & Co. CA decreased its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,664 shares of the Wireless communications provider’s stock after selling 1,170 shares during the period. Everett Harris & Co. CA’s holdings in Rogers Communications were worth $3,102,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barometer Capital Management Inc. purchased a new position in Rogers Communications in the fourth quarter valued at about $1,092,000. Janney Montgomery Scott LLC purchased a new position in Rogers Communications in the fourth quarter valued at about $1,719,000. CIBC Asset Management Inc boosted its holdings in Rogers Communications by 19.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,532,864 shares of the Wireless communications provider’s stock valued at $71,988,000 after purchasing an additional 247,496 shares during the last quarter. TD Asset Management Inc boosted its holdings in Rogers Communications by 27.3% in the fourth quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock valued at $520,980,000 after purchasing an additional 2,372,306 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Rogers Communications by 101.8% in the third quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock valued at $5,040,000 after purchasing an additional 66,231 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Up 1.7 %

NYSE RCI traded up $0.61 on Thursday, hitting $36.81. 348,859 shares of the stock traded hands, compared to its average volume of 827,327. The stock has a 50-day moving average of $38.55 and a 200 day moving average of $42.20. Rogers Communications Inc. has a twelve month low of $35.55 and a twelve month high of $48.19. The company has a market capitalization of $19.51 billion, a P/E ratio of 46.01, a price-to-earnings-growth ratio of 0.95 and a beta of 0.68. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion. As a group, analysts expect that Rogers Communications Inc. will post 3.67 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.3658 per share. This represents a $1.46 annualized dividend and a yield of 3.98%. The ex-dividend date is Monday, June 10th. Rogers Communications’s payout ratio is currently 181.25%.

Analyst Ratings Changes

A number of brokerages recently commented on RCI. StockNews.com downgraded Rogers Communications from a “hold” rating to a “sell” rating in a report on Saturday, June 15th. Barclays reduced their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, Rogers Communications has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

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.