V Square Quantitative Management LLC Invests $228,000 in Rogers Communications Inc. (NYSE:RCI)

V Square Quantitative Management LLC purchased a new position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,865 shares of the Wireless communications provider’s stock, valued at approximately $228,000.

Other hedge funds also recently bought and sold shares of the company. FIL Ltd raised its holdings in Rogers Communications by 13.7% in the fourth quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock worth $1,709,377,000 after buying an additional 4,405,888 shares during the last quarter. Canoe Financial LP raised its holdings in Rogers Communications by 1,575.9% in the 4th quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider’s stock worth $744,432,000 after acquiring an additional 14,954,351 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Rogers Communications by 10.2% in the 4th quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock valued at $594,848,000 after acquiring an additional 1,177,264 shares in the last quarter. TD Asset Management Inc lifted its position in Rogers Communications by 27.3% in the 4th quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock valued at $520,980,000 after acquiring an additional 2,372,306 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Rogers Communications by 3.1% during the 4th quarter. Mackenzie Financial Corp now owns 9,433,774 shares of the Wireless communications provider’s stock valued at $441,843,000 after purchasing an additional 285,730 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Price Performance

NYSE RCI opened at $37.76 on Tuesday. The stock has a market capitalization of $20.01 billion, a price-to-earnings ratio of 47.20, a PEG ratio of 1.01 and a beta of 0.68. Rogers Communications Inc. has a 1-year low of $36.55 and a 1-year high of $48.19. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72. The business’s fifty day moving average price is $38.90 and its 200-day moving average price is $42.86.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. On average, equities analysts predict that Rogers Communications Inc. will post 3.64 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 10th will be given a dividend of $0.3658 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.46 annualized dividend and a yield of 3.88%. Rogers Communications’s dividend payout ratio (DPR) is presently 181.25%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays lowered their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. StockNews.com cut shares of Rogers Communications from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

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.