Louisbourg Investments Inc. Raises Holdings in Rogers Communications Inc. (NYSE:RCI)

Louisbourg Investments Inc. lifted its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 248,503 shares of the Wireless communications provider’s stock after buying an additional 2,033 shares during the quarter. Rogers Communications makes up 1.6% of Louisbourg Investments Inc.’s holdings, making the stock its 15th largest position. Louisbourg Investments Inc.’s holdings in Rogers Communications were worth $6,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Rogers Communications by 19.8% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 120,997 shares of the Wireless communications provider’s stock worth $3,234,000 after buying an additional 19,986 shares during the last quarter. Bard Financial Services Inc. purchased a new stake in shares of Rogers Communications in the first quarter worth about $1,263,000. Monarch Capital Management Inc. boosted its stake in shares of Rogers Communications by 11.8% in the first quarter. Monarch Capital Management Inc. now owns 54,783 shares of the Wireless communications provider’s stock worth $1,475,000 after buying an additional 5,770 shares during the last quarter. Vest Financial LLC boosted its stake in shares of Rogers Communications by 83.1% in the first quarter. Vest Financial LLC now owns 45,097 shares of the Wireless communications provider’s stock worth $1,205,000 after buying an additional 20,474 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd raised its holdings in Rogers Communications by 1.2% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 102,545 shares of the Wireless communications provider’s stock worth $2,755,000 after purchasing an additional 1,180 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RCI. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Scotiabank cut Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Rogers Communications has an average rating of “Hold” and a consensus target price of $67.00.

Rogers Communications Price Performance

Shares of Rogers Communications stock opened at $27.91 on Tuesday. The business has a 50 day simple moving average of $25.84 and a two-hundred day simple moving average of $27.96. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The stock has a market capitalization of $14.96 billion, a P/E ratio of 12.03, a PEG ratio of 1.43 and a beta of 0.73. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period in the previous year, the company earned $0.99 EPS. Rogers Communications’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be issued a dividend of $0.3611 per share. The ex-dividend date is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.17%. This is a boost from Rogers Communications’s previous quarterly dividend of $0.35. Rogers Communications’s dividend payout ratio is presently 62.23%.

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.