Earnest Partners LLC Lowers Holdings in Rogers Communications Inc. (NYSE:RCI)

Earnest Partners LLC reduced its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,185 shares of the Wireless communications provider’s stock after selling 1,449 shares during the quarter. Earnest Partners LLC’s holdings in Rogers Communications were worth $1,227,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in shares of Rogers Communications during the 2nd quarter valued at approximately $37,000. Headlands Technologies LLC purchased a new position in Rogers Communications in the first quarter valued at $42,000. Acadian Asset Management LLC acquired a new position in shares of Rogers Communications in the second quarter worth about $55,000. CWM LLC boosted its stake in shares of Rogers Communications by 342.3% during the 2nd quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock worth $67,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its position in shares of Rogers Communications by 13.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock valued at $111,000 after acquiring an additional 322 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. TD Securities upped their price target on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets upped their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 target price (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.75.

Rogers Communications Stock Up 0.4 %

NYSE RCI opened at $40.25 on Friday. The business has a fifty day moving average price of $39.67 and a 200 day moving average price of $39.27. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65. The company has a market cap of $21.33 billion, a P/E ratio of 50.31, a P/E/G ratio of 1.06 and a beta of 0.67. Rogers Communications Inc. has a one year low of $35.55 and a one year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Research analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be issued a $0.365 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.63%. Rogers Communications’s payout ratio is 185.00%.

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.