Hsbc Holdings PLC Sells 164,676 Shares of Rogers Communications Inc. (NYSE:RCI)

Hsbc Holdings PLC trimmed its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 74.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 55,206 shares of the Wireless communications provider’s stock after selling 164,676 shares during the quarter. Hsbc Holdings PLC’s holdings in Rogers Communications were worth $2,020,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RCI. Dimensional Fund Advisors LP increased its holdings in shares of Rogers Communications by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 567,126 shares of the Wireless communications provider’s stock valued at $26,547,000 after acquiring an additional 37,026 shares in the last quarter. Claret Asset Management Corp bought a new position in shares of Rogers Communications in the fourth quarter valued at $209,000. Gold Investment Management Ltd. acquired a new position in shares of Rogers Communications during the fourth quarter valued at about $975,000. Alberta Investment Management Corp increased its position in shares of Rogers Communications by 2.4% during the fourth quarter. Alberta Investment Management Corp now owns 1,496,204 shares of the Wireless communications provider’s stock worth $70,385,000 after acquiring an additional 35,638 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Rogers Communications by 6.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,279,126 shares of the Wireless communications provider’s stock worth $106,865,000 after acquiring an additional 131,651 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Stock Performance

Shares of RCI opened at $40.08 on Friday. The stock has a 50 day moving average of $39.63 and a 200 day moving average of $39.27. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. Rogers Communications Inc. has a 12 month low of $35.55 and a 12 month high of $48.19. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results 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 company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. As a group, sell-side analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s payout ratio is 185.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on RCI shares. Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. 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. Canaccord Genuity Group reissued a “hold” rating and issued a $57.00 price target (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets increased their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

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.