Rogers Communications Inc. (NYSE:RCI) Shares Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd lifted its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 718,261 shares of the Wireless communications provider’s stock after buying an additional 23,774 shares during the period. Rogers Communications comprises approximately 2.9% of Cumberland Partners Ltd’s portfolio, making the stock its 10th biggest position. Cumberland Partners Ltd owned about 0.14% of Rogers Communications worth $33,622,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RCI. Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Rogers Communications by 15.8% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 81,310 shares of the Wireless communications provider’s stock worth $3,807,000 after acquiring an additional 11,112 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Rogers Communications by 26.3% during the fourth quarter. Signaturefd LLC now owns 6,024 shares of the Wireless communications provider’s stock worth $282,000 after acquiring an additional 1,253 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Rogers Communications by 120.8% during the fourth quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 499 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rogers Communications by 2.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,274,064 shares of the Wireless communications provider’s stock worth $59,935,000 after acquiring an additional 36,496 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Rogers Communications by 3.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,433,774 shares of the Wireless communications provider’s stock worth $441,843,000 after acquiring an additional 285,730 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RCI shares. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Barclays cut their target price on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Rogers Communications Stock Performance

Shares of Rogers Communications stock traded up $0.50 during trading on Tuesday, reaching $39.59. The company’s stock had a trading volume of 964,856 shares, compared to its average volume of 546,139. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.84 and a current ratio of 0.89. The business’s fifty day moving average price is $42.12 and its 200-day moving average price is $43.19. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 1.66 and a beta of 0.59. Rogers Communications Inc. has a one year low of $36.55 and a one year high of $50.00.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, February 1st. The Wireless communications provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.99 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%. As a group, equities research analysts predict that Rogers Communications Inc. will post 3.58 earnings per share for the current year.

Rogers Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Monday, March 11th were paid a $0.3742 dividend. The ex-dividend date was Friday, March 8th. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.36. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.78%. Rogers Communications’s payout ratio is presently 122.50%.

About Rogers Communications

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.