Louisbourg Investments Inc. Grows Position in Rogers Communications Inc. (NYSE:RCI)

Louisbourg Investments Inc. boosted its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,470 shares of the Wireless communications provider’s stock after acquiring an additional 39,156 shares during the quarter. Rogers Communications accounts for 1.8% of Louisbourg Investments Inc.’s portfolio, making the stock its 15th biggest holding. Louisbourg Investments Inc.’s holdings in Rogers Communications were worth $7,573,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RCI. Cromwell Holdings LLC purchased a new position in Rogers Communications during the third quarter worth about $31,000. Grove Bank & Trust boosted its stake 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 valued at $42,000 after buying an additional 302 shares during the period. Nexus Investment Management ULC acquired a new position in Rogers Communications during the 3rd quarter worth approximately $203,000. Y Intercept Hong Kong Ltd purchased a new position in Rogers Communications in the third quarter valued at $206,000. Finally, Tidal Investments LLC acquired a new stake in shares of Rogers Communications during the 3rd quarter worth about $248,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Trading Up 1.9 %

Rogers Communications stock opened at $27.43 on Wednesday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The firm’s 50-day moving average is $30.19 and its 200-day moving average is $35.60. Rogers Communications Inc. has a 1 year low of $26.57 and a 1 year high of $46.01. The company has a market cap of $14.66 billion, a P/E ratio of 11.82, a PEG ratio of 1.37 and a beta of 0.68.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. On average, equities analysts expect that Rogers Communications Inc. will post 3.58 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a dividend of $0.347 per share. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 5.06%. Rogers Communications’s payout ratio is presently 60.78%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley started coverage on Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating for the company. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Rogers Communications presently has a consensus rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Company 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.