Scheer Rowlett & Associates Investment Management Ltd. Buys 280,779 Shares of Rogers Communications Inc. (NYSE:RCI)

Scheer Rowlett & Associates Investment Management Ltd. grew its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,443,877 shares of the Wireless communications provider’s stock after buying an additional 280,779 shares during the period. Rogers Communications accounts for 3.2% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 13th biggest holding. Scheer Rowlett & Associates Investment Management Ltd. owned 0.27% of Rogers Communications worth $44,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RCI. Crossmark Global Holdings Inc. boosted its position in shares of Rogers Communications by 1.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock worth $725,000 after purchasing an additional 379 shares during the period. Verition Fund Management LLC boosted its holdings in Rogers Communications by 7.9% in the 3rd quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock worth $301,000 after buying an additional 551 shares during the period. Waldron Private Wealth LLC increased its stake in Rogers Communications by 3.1% in the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock worth $682,000 after buying an additional 660 shares in the last quarter. State Street Corp raised its holdings in Rogers Communications by 0.5% during the third quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock valued at $5,550,000 after acquiring an additional 661 shares during the period. Finally, Lindbrook Capital LLC lifted its position in shares of Rogers Communications by 95.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 744 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Trading Up 0.1 %

RCI stock opened at $28.38 on Friday. The firm has a market cap of $15.17 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. The firm has a fifty day moving average price of $28.57 and a 200 day moving average price of $34.26. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. Rogers Communications Inc. has a fifty-two week low of $26.57 and a fifty-two week high of $44.38.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a $0.347 dividend. This represents a $1.39 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Monday, March 10th. Rogers Communications’s payout ratio is 59.05%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RCI shares. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Morgan Stanley began coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.75.

About Rogers Communications

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.