Versor Investments LP Sells 998 Shares of Rogers Communications Inc. (NYSE:RCI)

Versor Investments LP cut its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 10.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,402 shares of the Wireless communications provider’s stock after selling 998 shares during the period. Versor Investments LP’s holdings in Rogers Communications were worth $338,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust raised its holdings in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after purchasing an additional 302 shares during the last quarter. Creative Planning grew its position in Rogers Communications by 2.2% in the 3rd quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider’s stock worth $896,000 after purchasing an additional 486 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 522 shares during the last quarter. First Affirmative Financial Network lifted its position in shares of Rogers Communications by 11.2% during the 2nd quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider’s stock worth $239,000 after buying an additional 649 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Rogers Communications by 11.1% in the 3rd quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider’s stock worth $266,000 after buying an additional 664 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RCI. Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 price target (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Canaccord Genuity Group lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. TD Securities lifted their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, BMO Capital Markets increased their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Rogers Communications has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

Rogers Communications Stock Performance

NYSE:RCI opened at $35.75 on Friday. The company has a market capitalization of $19.05 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.11 and a beta of 0.69. The business has a fifty day simple moving average of $38.59 and a two-hundred day simple moving average of $38.66. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. Rogers Communications Inc. has a 1 year low of $35.17 and a 1 year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.35. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 EPS. On average, analysts expect that Rogers Communications Inc. will post 3.55 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 4.04%. Rogers Communications’s payout ratio is 72.20%.

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.