Versor Investments LP Sells 998 Shares of Rogers Communications Inc. (NYSE:RCI)

Versor Investments LP reduced its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 10.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,402 shares of the Wireless communications provider’s stock after selling 998 shares during the quarter. Versor Investments LP’s holdings in Rogers Communications were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RCI. Cromwell Holdings LLC acquired a new position in shares of Rogers Communications in the 3rd quarter worth approximately $31,000. Ridgewood Investments LLC acquired a new position in Rogers Communications in the second quarter valued at $37,000. Northwestern Mutual Wealth Management Co. boosted its position in Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Rogers Communications during the 1st quarter worth about $42,000. Finally, Grove Bank & Trust raised its position in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after acquiring an additional 302 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RCI shares. TD Securities upped their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Canaccord Genuity Group restated a “hold” rating and set a $57.00 price target (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets increased their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Rogers Communications has an average rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications Trading Down 1.1 %

Shares of Rogers Communications stock opened at $35.75 on Friday. The stock has a market capitalization of $19.05 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69. Rogers Communications Inc. has a 52 week low of $35.17 and a 52 week high of $48.19. The stock has a 50 day moving average price of $38.59 and a two-hundred day moving average price of $38.66. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business posted $0.95 EPS. Rogers Communications’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts anticipate that Rogers Communications Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors 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 4.04%. Rogers Communications’s dividend payout ratio is presently 72.20%.

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.