Rogers Communication, Inc. $RCI Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lowered its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 40.7% during the third quarter, HoldingsChannel reports. The firm owned 161,900 shares of the Wireless communications provider’s stock after selling 110,900 shares during the quarter. 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.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Rogers Communication by 7.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 17,744 shares of the Wireless communications provider’s stock valued at $526,000 after buying an additional 1,297 shares during the last quarter. Geode Capital Management LLC increased its stake in Rogers Communication by 21.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,144,900 shares of the Wireless communications provider’s stock valued at $96,613,000 after buying an additional 550,132 shares during the period. Creative Planning raised its position in Rogers Communication by 20.9% during the 2nd quarter. Creative Planning now owns 79,343 shares of the Wireless communications provider’s stock worth $2,353,000 after buying an additional 13,689 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Rogers Communication by 39.9% in the 2nd quarter. Intech Investment Management LLC now owns 58,616 shares of the Wireless communications provider’s stock worth $1,735,000 after acquiring an additional 16,719 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Rogers Communication in the 2nd quarter worth $710,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

RCI has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rogers Communication in a report on Friday, December 26th. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Finally, Desjardins downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rogers Communication currently has an average rating of “Hold” and an average price target of $36.00.

Rogers Communication Stock Performance

NYSE:RCI opened at $39.02 on Thursday. The firm’s fifty day simple moving average is $38.02 and its 200-day simple moving average is $37.37. 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 stock has a market cap of $21.08 billion, a PE ratio of 4.22, a price-to-earnings-growth ratio of 5.22 and a beta of 0.74. Rogers Communication, Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.14.

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, beating the consensus estimate of $0.98 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. Analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

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

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.