Rogers Communications (RCI) Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lessened its stake in Rogers Communications (NYSE:RCI) (TSE:RCI.B) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,421,761 shares of the Wireless communications provider’s stock after selling 70,880 shares during the period. Rogers Communications makes up approximately 1.9% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 21st largest position. Letko Brosseau & Associates Inc. owned about 0.86% of Rogers Communications worth $197,346,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Rogers Communications by 79.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,596,985 shares of the Wireless communications provider’s stock valued at $234,125,000 after acquiring an additional 2,041,583 shares during the period. APG Asset Management N.V. grew its position in shares of Rogers Communications by 43.1% during the 4th quarter. APG Asset Management N.V. now owns 4,381,163 shares of the Wireless communications provider’s stock valued at $186,516,000 after acquiring an additional 1,320,100 shares during the period. CIBC Asset Management Inc grew its position in shares of Rogers Communications by 1.9% during the 1st quarter. CIBC Asset Management Inc now owns 3,871,641 shares of the Wireless communications provider’s stock valued at $172,651,000 after acquiring an additional 72,392 shares during the period. Mackenzie Financial Corp grew its position in shares of Rogers Communications by 71.5% during the 4th quarter. Mackenzie Financial Corp now owns 3,028,391 shares of the Wireless communications provider’s stock valued at $154,236,000 after acquiring an additional 1,263,019 shares during the period. Finally, USS Investment Management Ltd bought a new stake in shares of Rogers Communications during the 4th quarter valued at $130,443,000. 48.25% of the stock is owned by institutional investors and hedge funds.

Rogers Communications opened at $48.12 on Monday, according to MarketBeat.com. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.59 and a current ratio of 0.65. Rogers Communications has a fifty-two week low of $43.11 and a fifty-two week high of $54.95. The firm has a market cap of $24.77 billion, a P/E ratio of 17.76, a PEG ratio of 3.04 and a beta of 0.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, April 19th. The Wireless communications provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. Rogers Communications had a net margin of 12.73% and a return on equity of 30.77%. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.75 billion. equities analysts expect that Rogers Communications will post 3.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Monday, June 11th will be paid a dividend of $0.3821 per share. This represents a $1.53 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, June 8th. Rogers Communications’s dividend payout ratio (DPR) is 57.56%.

RCI has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Barclays reissued a “hold” rating and set a $55.00 price objective on shares of Rogers Communications in a research report on Friday, January 26th. Finally, National Bank Financial downgraded shares of Rogers Communications from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Rogers Communications currently has a consensus rating of “Hold” and an average price target of $61.67.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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