Lincluden Management Ltd. Has $2.99 Million Position in Rogers Communication, Inc. $RCI

Lincluden Management Ltd. boosted its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 26.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,811 shares of the Wireless communications provider’s stock after purchasing an additional 21,304 shares during the quarter. Lincluden Management Ltd.’s holdings in Rogers Communication were worth $2,988,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its stake in Rogers Communication by 0.4% in the first quarter. Mackenzie Financial Corp now owns 8,368,837 shares of the Wireless communications provider’s stock valued at $223,483,000 after buying an additional 37,013 shares in the last quarter. Bank of Nova Scotia lifted its stake in Rogers Communication by 3.4% in the first quarter. Bank of Nova Scotia now owns 7,998,907 shares of the Wireless communications provider’s stock valued at $213,641,000 after buying an additional 262,705 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its stake in Rogers Communication by 13.0% in the first quarter. Letko Brosseau & Associates Inc. now owns 5,885,187 shares of the Wireless communications provider’s stock valued at $157,143,000 after buying an additional 674,807 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Rogers Communication by 303.8% in the first quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider’s stock valued at $148,047,000 after buying an additional 4,166,861 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in Rogers Communication by 10.0% in the first quarter. Scotia Capital Inc. now owns 4,068,135 shares of the Wireless communications provider’s stock valued at $108,542,000 after buying an additional 370,490 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RCI shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a research report on Wednesday. Barclays boosted their price objective on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. Finally, Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

Rogers Communication Price Performance

NYSE:RCI opened at $36.81 on Friday. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $39.33. The company has a market cap of $19.81 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.95 and a beta of 0.78. The firm’s fifty day moving average price is $35.24 and its two-hundred day moving average price is $30.49. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the company posted $1.16 earnings per share. Rogers Communication’s revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 8th were issued a $0.3672 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Rogers Communication’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is currently 72.64%.

Rogers Communication 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.