Letko Brosseau & Associates Inc. Sells 69,575 Shares of Rogers Communication, Inc. $RCI

Letko Brosseau & Associates Inc. lowered its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,621,447 shares of the Wireless communications provider’s stock after selling 69,575 shares during the period. Rogers Communication makes up approximately 4.1% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 4th biggest holding. Letko Brosseau & Associates Inc.’s holdings in Rogers Communication were worth $250,270,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. LPL Financial LLC increased its holdings in shares of Rogers Communication by 14.5% in the fourth quarter. LPL Financial LLC now owns 11,042 shares of the Wireless communications provider’s stock valued at $417,000 after purchasing an additional 1,398 shares during the period. Franklin Resources Inc. increased its holdings in shares of Rogers Communication by 9.4% in the fourth quarter. Franklin Resources Inc. now owns 670,412 shares of the Wireless communications provider’s stock valued at $25,307,000 after purchasing an additional 57,831 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Rogers Communication in the fourth quarter valued at approximately $2,135,000. Manchester Capital Management LLC acquired a new position in shares of Rogers Communication in the fourth quarter valued at approximately $26,000. Finally, Fiera Capital Corp increased its holdings in shares of Rogers Communication by 8,881.3% in the fourth quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after purchasing an additional 7,116,744 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Down 0.5%

Rogers Communication stock opened at $37.55 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.53. Rogers Communication, Inc. has a 1-year low of $26.70 and a 1-year high of $41.14. The company has a market cap of $20.29 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 3.32 and a beta of 0.62. The stock’s 50 day moving average price is $36.01 and its 200 day moving average price is $37.21.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Rogers Communication, Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 9th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. Rogers Communication’s payout ratio is 15.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Desjardins reissued a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. TD Securities lowered Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Scotiabank upgraded Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.00.

Rogers Communication 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.