Value Partners Investments Inc. Has $61.81 Million Stock Position in Rogers Communication, Inc. (NYSE:RCI)

Value Partners Investments Inc. lifted its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1,252.8% during the first quarter, Holdings Channel.com reports. The firm owned 2,312,136 shares of the Wireless communications provider’s stock after acquiring an additional 2,141,227 shares during the period. Rogers Communication accounts for about 5.3% of Value Partners Investments Inc.’s portfolio, making the stock its 5th biggest position. Value Partners Investments Inc.’s holdings in Rogers Communication were worth $61,808,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in shares of Rogers Communication during the 1st quarter worth about $273,000. Intact Investment Management Inc. increased its stake in shares of Rogers Communication by 55.7% during the first quarter. Intact Investment Management Inc. now owns 2,913,921 shares of the Wireless communications provider’s stock valued at $77,827,000 after acquiring an additional 1,042,690 shares during the period. Louisbourg Investments Inc. raised its holdings in Rogers Communication by 0.8% during the first quarter. Louisbourg Investments Inc. now owns 248,503 shares of the Wireless communications provider’s stock worth $6,643,000 after purchasing an additional 2,033 shares in the last quarter. Lorne Steinberg Wealth Management Inc. raised its holdings in Rogers Communication by 19.8% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 120,997 shares of the Wireless communications provider’s stock worth $3,234,000 after purchasing an additional 19,986 shares in the last quarter. Finally, Bard Financial Services Inc. bought a new position in Rogers Communication during the 1st quarter valued at $1,263,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Trading Down 0.0%

Shares of NYSE:RCI opened at $29.13 on Thursday. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.94 and a current ratio of 1.00. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.60 and a beta of 0.73. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The company has a 50 day moving average price of $26.35 and a 200 day moving average price of $27.69.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $4.96 billion. Rogers Communication had a net margin of 8.53% and a return on equity of 25.28%. Rogers Communication’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. On average, research analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be given a $0.3611 dividend. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.96%. Rogers Communication’s dividend payout ratio (DPR) is 62.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Scotiabank cut Rogers Communication from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group raised Rogers Communication from a “hold” rating to a “buy” rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Rogers Communication presently has an average rating of “Hold” and an average price target of $67.00.

Rogers Communication 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.