Westerkirk Capital Inc. Reduces Stock Holdings in Rogers Communication, Inc. $RCI

Westerkirk Capital Inc. decreased its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 93.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,117 shares of the Wireless communications provider’s stock after selling 15,000 shares during the quarter. Westerkirk Capital Inc.’s holdings in Rogers Communication were worth $42,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCI. Invesco Ltd. lifted its stake in shares of Rogers Communication by 52.3% during the 2nd quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider’s stock worth $27,724,000 after acquiring an additional 321,124 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 683 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Rogers Communication by 36.5% during the 2nd quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider’s stock worth $1,103,000 after acquiring an additional 9,951 shares during the last quarter. Cerity Partners LLC raised its position in Rogers Communication by 7.0% during the 2nd quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock valued at $326,000 after purchasing an additional 724 shares in the last quarter. Finally, AXA S.A. raised its position in Rogers Communication by 231.1% during the 2nd quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider’s stock valued at $1,481,000 after purchasing an additional 34,860 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Rogers Communication Stock Down 0.5%

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

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

Rogers Communication Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on RCI shares. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Finally, TD Securities downgraded Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rogers Communication currently has a consensus rating of “Hold” and an average target price 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.