QV Investors Inc. Has $32.84 Million Holdings in Rogers Communication, Inc. $RCI

QV Investors Inc. cut its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 868,767 shares of the Wireless communications provider’s stock after selling 67,022 shares during the period. Rogers Communication accounts for about 2.7% of QV Investors Inc.’s investment portfolio, making the stock its 13th biggest position. QV Investors Inc. owned approximately 0.16% of Rogers Communication worth $32,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Headlands Technologies LLC raised its position in Rogers Communication by 143.2% in 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. FNY Investment Advisers LLC bought a new position in Rogers Communication in the 3rd quarter valued at $58,000. EverSource Wealth Advisors LLC increased its stake in shares of Rogers Communication by 52.6% in the 2nd 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 during the period. Advisory Services Network LLC acquired a new stake in shares of Rogers Communication in the 3rd quarter valued at $63,000. Finally, Danske Bank A S bought a new stake in shares of Rogers Communication during the third quarter worth $64,000. 45.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Desjardins lowered Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday. Barclays restated a “positive” rating and set a $37.00 target price on shares of Rogers Communication in a research report on Tuesday, January 27th. Finally, TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rogers Communication has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Performance

RCI stock opened at $35.06 on Friday. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $41.14. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. The company has a market cap of $18.94 billion, a P/E ratio of 3.79, a price-to-earnings-growth ratio of 4.65 and a beta of 0.72. The business’s fifty day moving average is $38.43 and its 200-day moving average is $37.56.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 earnings per share. Equities research analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Tuesday, March 10th. Rogers Communication’s payout ratio is presently 15.89%.

About Rogers Communication

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.