Galibier Capital Management Ltd. Sells 229,802 Shares of Rogers Communications Inc. (NYSE:RCI)

Galibier Capital Management Ltd. lessened its position in Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) by 21.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 829,157 shares of the Wireless communications provider’s stock after selling 229,802 shares during the period. Rogers Communications makes up 7.5% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 6th largest holding. Galibier Capital Management Ltd. owned 0.16% of Rogers Communications worth $39,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Advisor Group Holdings Inc. raised its position in Rogers Communications by 25.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,544 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 514 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Rogers Communications by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 427,851 shares of the Wireless communications provider’s stock valued at $20,379,000 after purchasing an additional 9,109 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Rogers Communications by 9,247.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,862 shares of the Wireless communications provider’s stock worth $708,000 after buying an additional 14,703 shares in the last quarter. Geode Capital Management LLC grew its position in Rogers Communications by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 1,023,291 shares of the Wireless communications provider’s stock worth $49,285,000 after buying an additional 61,976 shares during the period. Finally, Taconic Capital Advisors LP increased its holdings in Rogers Communications by 9.5% in the fourth quarter. Taconic Capital Advisors LP now owns 520,000 shares of the Wireless communications provider’s stock valued at $24,760,000 after buying an additional 45,000 shares in the last quarter. Hedge funds and other institutional investors own 44.35% of the company’s stock.

Rogers Communications Trading Down 1.9 %

Rogers Communications stock traded down $0.79 during midday trading on Friday, reaching $40.65. The stock had a trading volume of 19,004 shares, compared to its average volume of 442,129. The stock’s 50-day simple moving average is $44.31 and its 200 day simple moving average is $49.40. Rogers Communications Inc. has a twelve month low of $40.63 and a twelve month high of $64.55. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.43 and a current ratio of 2.49. The stock has a market capitalization of $20.52 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.35 and a beta of 0.45.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, July 27th. The Wireless communications provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.94 billion. Rogers Communications had a return on equity of 18.10% and a net margin of 11.26%. Analysts expect that Rogers Communications Inc. will post 2.88 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a $0.3884 dividend. This represents a $1.55 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Thursday, September 8th. Rogers Communications’s payout ratio is currently 58.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets decreased their price target on Rogers Communications from C$75.00 to C$72.00 in a research note on Monday, July 11th. Canaccord Genuity Group lowered their target price on Rogers Communications from C$69.00 to C$68.00 and set a “buy” rating on the stock in a report on Friday, July 22nd. National Bank Financial cut their price target on Rogers Communications from C$78.00 to C$77.00 in a research note on Friday, September 2nd. Canaccord Genuity Group upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st. Finally, Royal Bank of Canada dropped their target price on shares of Rogers Communications from C$75.00 to C$73.00 in a report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.65.

About Rogers Communications

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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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

Further Reading

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

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