Platinum Investment Management Ltd. Sells 1,556,894 Shares of Rogers Communication, Inc. $RCI

Platinum Investment Management Ltd. lessened its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 91.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,160 shares of the Wireless communications provider’s stock after selling 1,556,894 shares during the period. Rogers Communication makes up about 1.3% of Platinum Investment Management Ltd.’s portfolio, making the stock its 22nd largest holding. Platinum Investment Management Ltd.’s holdings in Rogers Communication were worth $5,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiera Capital Corp grew its position in 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 acquiring an additional 7,116,744 shares during the last quarter. Bank of America Corp DE grew its position in Rogers Communication by 67.8% in the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after acquiring an additional 1,966,476 shares during the last quarter. Caisse de depot et placement du Quebec bought a new stake in shares of Rogers Communication during the third quarter worth about $47,082,000. TD Asset Management Inc grew its holdings in shares of Rogers Communication by 18.0% during the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after purchasing an additional 1,272,065 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Rogers Communication by 390.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,021,444 shares of the Wireless communications provider’s stock worth $35,156,000 after purchasing an additional 813,286 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Price Performance

Shares of RCI opened at $38.54 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. Rogers Communication, Inc. has a 52-week low of $27.20 and a 52-week high of $41.14. The business’s 50 day moving average price is $36.03 and its two-hundred day moving average price is $37.23. The firm has a market cap of $20.82 billion, a PE ratio of 4.07, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

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

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is 15.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Scotiabank upgraded Rogers Communication from a “hold” rating to an “outperform” rating in a report on Thursday, April 23rd. Finally, Desjardins restated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rogers Communication presently has a consensus 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.