Barclays PLC Cuts Stock Position in Rogers Communications Inc. (NYSE:RCI)

Barclays PLC trimmed its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 26.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,027 shares of the Wireless communications provider’s stock after selling 53,462 shares during the period. Barclays PLC’s holdings in Rogers Communications were worth $5,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Rogers Communications during the third quarter worth about $2,559,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Rogers Communications during the 3rd quarter valued at about $206,000. Orion Portfolio Solutions LLC lifted its position in Rogers Communications by 97.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 57,709 shares of the Wireless communications provider’s stock worth $2,320,000 after acquiring an additional 28,496 shares in the last quarter. National Bank of Canada FI lifted its position in Rogers Communications by 18.6% during the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after acquiring an additional 977,924 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Rogers Communications by 96.8% in the 3rd quarter. Wellington Management Group LLP now owns 22,198 shares of the Wireless communications provider’s stock worth $894,000 after acquiring an additional 10,917 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Trading Down 1.2 %

RCI opened at $30.39 on Friday. The stock has a market capitalization of $16.24 billion, a PE ratio of 14.82, a P/E/G ratio of 1.06 and a beta of 0.67. 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 12-month low of $30.36 and a 12-month high of $48.19. The firm’s fifty day moving average price is $35.97 and its 200 day moving average price is $37.89.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.07 by $0.35. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 earnings per share. As a group, research analysts expect that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.75%. Rogers Communications’s dividend payout ratio (DPR) is 71.71%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of Rogers Communications in a research note on Monday. They set an “underweight” rating on the stock. TD Securities boosted their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, BMO Capital Markets upped their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.75.

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.