Lincluden Management Ltd. Has $3 Million Position in Rogers Communications Inc. (NYSE:RCI)

Lincluden Management Ltd. cut its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,037 shares of the Wireless communications provider’s stock after selling 2,974 shares during the quarter. Lincluden Management Ltd.’s holdings in Rogers Communications were worth $2,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its stake in Rogers Communications by 10.1% in the fourth quarter. Metis Global Partners LLC now owns 15,599 shares of the Wireless communications provider’s stock valued at $730,000 after acquiring an additional 1,428 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Rogers Communications by 25.2% during the fourth quarter. Natixis Advisors L.P. now owns 164,477 shares of the Wireless communications provider’s stock valued at $7,699,000 after acquiring an additional 33,100 shares during the period. Intact Investment Management Inc. lifted its holdings in shares of Rogers Communications by 1.6% during the fourth quarter. Intact Investment Management Inc. now owns 1,481,691 shares of the Wireless communications provider’s stock valued at $69,366,000 after acquiring an additional 23,390 shares during the period. Cumberland Partners Ltd boosted its stake in shares of Rogers Communications by 3.4% in the 4th quarter. Cumberland Partners Ltd now owns 718,261 shares of the Wireless communications provider’s stock valued at $33,622,000 after purchasing an additional 23,774 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its holdings in Rogers Communications by 15.8% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 81,310 shares of the Wireless communications provider’s stock valued at $3,807,000 after purchasing an additional 11,112 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Trading Up 0.5 %

Shares of NYSE RCI traded up $0.21 during mid-day trading on Friday, hitting $39.54. The company’s stock had a trading volume of 744,115 shares, compared to its average volume of 1,034,363. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of 49.43, a price-to-earnings-growth ratio of 1.05 and a beta of 0.63. The company’s fifty day simple moving average is $40.33 and its 200-day simple moving average is $43.12. Rogers Communications Inc. has a one year low of $36.55 and a one year high of $49.38.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. On average, sell-side analysts anticipate that Rogers Communications Inc. will post 3.64 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be paid a $0.3658 dividend. This represents a $1.46 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s payout ratio is presently 183.75%.

Analyst Upgrades and Downgrades

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

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.