Rogers Communications Inc. (NYSE:RCI) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC decreased its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 28.3% in the 2nd quarter, Holdings Channel reports. The fund owned 734 shares of the Wireless communications provider’s stock after selling 289 shares during the period. Headlands Technologies LLC’s holdings in Rogers Communications were worth $27,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in Rogers Communications in the second quarter valued at approximately $37,000. Acadian Asset Management LLC acquired a new stake in Rogers Communications in the second quarter valued at approximately $55,000. CWM LLC grew its position in Rogers Communications by 342.3% in the second quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock valued at $67,000 after acquiring an additional 1,400 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Rogers Communications by 106.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock valued at $68,000 after acquiring an additional 745 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its position in Rogers Communications by 13.4% in the first 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 in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Rogers Communications stock opened at $40.81 on Wednesday. The company has a market cap of $21.63 billion, a PE ratio of 51.01, a P/E/G ratio of 1.06 and a beta of 0.67. The company has a fifty day moving average price of $39.29 and a two-hundred day moving average price of $39.40. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60. Rogers Communications Inc. has a 12 month low of $35.55 and a 12 month high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. Research analysts expect that Rogers Communications Inc. will post 3.59 earnings per share for the current 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. This represents a $1.46 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s dividend payout ratio is presently 185.00%.

Wall Street Analysts Forecast Growth

RCI has been the subject of a number of recent analyst reports. Canaccord Genuity Group reissued a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rogers Communications has a consensus rating of “Hold” and an average price target of $51.50.

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.