Polar Asset Management Partners Inc. Decreases Stake in Rogers Communication, Inc. $RCI

Polar Asset Management Partners Inc. cut its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 40.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,900 shares of the Wireless communications provider’s stock after selling 110,900 shares during the period. Polar Asset Management Partners Inc.’s holdings in Rogers Communication were worth $5,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC lifted its position in shares of Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares during the last quarter. MAI Capital Management raised its stake in Rogers Communication by 30.5% in the second quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock valued at $58,000 after buying an additional 458 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after buying an additional 683 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Rogers Communication during the 3rd quarter worth about $63,000. Finally, Danske Bank A S acquired a new position in shares of Rogers Communication during the 3rd quarter worth about $64,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communication Stock Down 1.1%

Shares of NYSE:RCI opened at $39.02 on Thursday. The stock has a market cap of $21.08 billion, a P/E ratio of 4.22, a P/E/G ratio of 5.22 and a beta of 0.74. The firm has a fifty day moving average price of $38.02 and a 200 day moving average price of $37.37. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. Rogers Communication’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. Sell-side analysts predict that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.1%. Rogers Communication’s dividend payout ratio (DPR) is currently 15.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rogers Communication in a report on Friday, December 26th. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.