National Bank of Canada FI Has $188.14 Million Position in Rogers Communications Inc. (NYSE:RCI)

National Bank of Canada FI cut its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 30.6% during the 4th quarter, Holdings Channel reports. The firm owned 4,050,796 shares of the Wireless communications provider’s stock after selling 1,785,000 shares during the quarter. National Bank of Canada FI’s holdings in Rogers Communications were worth $188,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of RCI. SG Americas Securities LLC acquired a new stake in Rogers Communications during the 3rd quarter valued at $827,000. Mackenzie Financial Corp boosted its holdings in shares of Rogers Communications by 5.8% during the 3rd quarter. Mackenzie Financial Corp now owns 9,148,044 shares of the Wireless communications provider’s stock worth $339,007,000 after buying an additional 505,427 shares during the period. Cascade Investment Advisors Inc. grew its stake in Rogers Communications by 42.7% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 32,070 shares of the Wireless communications provider’s stock valued at $1,231,000 after buying an additional 9,600 shares during the last quarter. Lorne Steinberg Wealth Management Inc. raised its holdings in Rogers Communications by 1.9% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 70,198 shares of the Wireless communications provider’s stock valued at $2,707,000 after acquiring an additional 1,311 shares during the period. Finally, K.J. Harrison & Partners Inc lifted its position in Rogers Communications by 10.6% during the third quarter. K.J. Harrison & Partners Inc now owns 15,287 shares of the Wireless communications provider’s stock worth $590,000 after acquiring an additional 1,460 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RCI has been the topic of several research reports. StockNews.com downgraded Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Barclays dropped their target price on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.00.

Rogers Communications Price Performance

Shares of RCI traded up $0.52 during trading hours on Friday, hitting $38.43. 805,862 shares of the company were exchanged, compared to its average volume of 945,229. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 48.04, a P/E/G ratio of 1.01 and a beta of 0.62. The firm’s fifty day moving average is $41.05 and its 200 day moving average is $43.08. Rogers Communications Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $49.60. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. On average, equities analysts anticipate that Rogers Communications Inc. will post 3.64 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be given a dividend of $0.3658 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.46 annualized dividend and a yield of 3.81%. Rogers Communications’s dividend payout ratio is currently 183.75%.

Rogers Communications 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.