Short Interest in Rogers Communications Inc. (NYSE:RCI) Increases By 27.6%

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 9,560,000 shares, an increase of 27.6% from the February 13th total of 7,490,000 shares. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is currently 8.2 days. Currently, 2.5% of the shares of the stock are sold short.

Rogers Communications Trading Up 1.1 %

NYSE RCI traded up $0.31 during trading on Tuesday, reaching $28.63. 951,626 shares of the stock traded hands, compared to its average volume of 869,587. The firm has a market cap of $15.30 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The stock’s 50-day moving average price is $28.26 and its 200 day moving average price is $33.65. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications has a fifty-two week low of $26.57 and a fifty-two week high of $42.96.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Analysts predict that Rogers Communications will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be given a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays reissued an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.75.

Institutional Trading of Rogers Communications

Institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC raised its position in Rogers Communications by 95.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock worth $47,000 after acquiring an additional 744 shares in the last quarter. Jones Financial Companies Lllp raised its position in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock worth $55,000 after acquiring an additional 1,052 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Rogers Communications during the third quarter worth $206,000. Headlands Technologies LLC raised its position in Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock worth $163,000 after acquiring an additional 3,888 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after acquiring an additional 930 shares in the last quarter. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.