JPMorgan Chase & Co. Sells 205,919 Shares of Rogers Communication, Inc. $RCI

JPMorgan Chase & Co. reduced its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,064,898 shares of the Wireless communications provider’s stock after selling 205,919 shares during the quarter. JPMorgan Chase & Co.’s holdings in Rogers Communication were worth $71,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in Rogers Communication by 12.6% during the third quarter. PNC Financial Services Group Inc. now owns 19,980 shares of the Wireless communications provider’s stock valued at $689,000 after acquiring an additional 2,236 shares during the last quarter. Cidel Asset Management Inc. increased its position in shares of Rogers Communication by 10.2% during the third quarter. Cidel Asset Management Inc. now owns 11,193 shares of the Wireless communications provider’s stock worth $385,000 after purchasing an additional 1,035 shares in the last quarter. Tacita Capital Inc lifted its holdings in shares of Rogers Communication by 32.3% during the 3rd quarter. Tacita Capital Inc now owns 10,032 shares of the Wireless communications provider’s stock valued at $346,000 after purchasing an additional 2,452 shares during the last quarter. Varma Mutual Pension Insurance Co boosted its position in shares of Rogers Communication by 8.8% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 442,200 shares of the Wireless communications provider’s stock worth $15,226,000 after purchasing an additional 35,700 shares in the last quarter. Finally, MQS Management LLC grew its stake in Rogers Communication by 17.4% during the 3rd quarter. MQS Management LLC now owns 16,987 shares of the Wireless communications provider’s stock worth $586,000 after buying an additional 2,514 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Performance

RCI opened at $38.97 on Wednesday. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $40.26. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $21.05 billion, a PE ratio of 4.21, a P/E/G ratio of 5.11 and a beta of 0.74. The firm has a 50 day moving average of $37.22 and a two-hundred day moving average of $36.88.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. On average, analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, March 10th. Rogers Communication’s dividend payout ratio (DPR) is currently 15.46%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RCI. Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a report on Friday, December 26th. Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Barclays reissued a “positive” rating and set a $37.00 target price on shares of Rogers Communication in a research report on Tuesday, January 27th. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.