Rogers Communication, Inc. $RCI Holdings Lessened by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 10.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,343,372 shares of the Wireless communications provider’s stock after selling 859,362 shares during the quarter. Rogers Communication comprises approximately 1.8% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 24th biggest position. Beutel Goodman & Co Ltd. owned about 1.36% of Rogers Communication worth $226,650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RCI. Nykredit A S bought a new position in shares of Rogers Communication in the second quarter worth $1,847,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Rogers Communication by 277.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider’s stock worth $12,208,000 after purchasing an additional 233,449 shares during the period. Hillsdale Investment Management Inc. lifted its position in Rogers Communication by 4.2% during the first quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider’s stock worth $38,117,000 after purchasing an additional 39,638 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Rogers Communication during the second quarter worth about $1,395,000. Finally, Bank of New York Mellon Corp grew its stake in Rogers Communication by 30.7% during the first quarter. Bank of New York Mellon Corp now owns 426,113 shares of the Wireless communications provider’s stock worth $16,384,000 after buying an additional 100,162 shares in the last quarter. Institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RCI. Raymond James Financial initiated coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Weiss Ratings upgraded shares of Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 26th. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, October 20th. Finally, Barclays lowered their price objective on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Rogers Communication Stock Performance

Rogers Communication stock opened at $33.40 on Tuesday. Rogers Communication, Inc. has a 12-month low of $29.25 and a 12-month high of $41.14. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.65. The business’s 50-day moving average price is $33.21 and its two-hundred day moving average price is $35.61. The stock has a market cap of $18.04 billion, a PE ratio of 9.69, a P/E/G ratio of 3.96 and a beta of 0.66.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Friday, October 23rd. The Wireless communications provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.84 by $0.08. Rogers Communication had a return on equity of 11.51% and a net margin of 4.11%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, analysts expect that Rogers Communication, Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 8th will be given a dividend of C$0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Tuesday, December 8th. Rogers Communication’s dividend payout ratio is currently 120.00%.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto. Founded by Ted Rogers in 1960, the company serves consumers and businesses across Canada.

Its telecommunications operations provide wireless voice and data services, internet access, cable television and home phone services. Rogers offers wireless services through brands including Rogers, Fido and Chatr.

The company also operates media businesses, including Sportsnet, Citytv, OMNI Television and radio stations.