Fiera Capital Corp Sells 10,862 Shares of Rogers Communications Inc. (NYSE:RCI)

Fiera Capital Corp cut its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 61.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,724 shares of the Wireless communications provider’s stock after selling 10,862 shares during the quarter. Fiera Capital Corp’s holdings in Rogers Communications were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FIL Ltd grew its holdings in shares of Rogers Communications by 13.7% during the 4th quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock valued at $1,709,377,000 after purchasing an additional 4,405,888 shares during the last quarter. Canoe Financial LP grew its holdings in Rogers Communications by 1,575.9% during 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. grew its holdings in Rogers Communications by 10.2% during the 4th quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock worth $594,848,000 after acquiring an additional 1,177,264 shares during the last quarter. TD Asset Management Inc grew its holdings in Rogers Communications by 4.2% during the 1st quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider’s stock worth $473,204,000 after acquiring an additional 463,368 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Rogers Communications by 37.5% during the 1st quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock worth $220,193,000 after acquiring an additional 1,519,894 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Rogers Communications Trading Up 1.4 %

NYSE:RCI opened at $41.18 on Friday. The firm’s fifty day moving average is $38.66 and its 200-day moving average is $39.74. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65. Rogers Communications Inc. has a 52 week low of $35.55 and a 52 week high of $48.19. The firm has a market cap of $21.83 billion, a P/E ratio of 51.48, a P/E/G ratio of 1.06 and a beta of 0.68.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.33. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the company earned $0.76 EPS. Rogers Communications’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts expect that Rogers Communications Inc. will post 3.59 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 9th will be given a dividend of $0.365 per share. The ex-dividend date is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.55%. Rogers Communications’s payout ratio is presently 180.00%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RCI shares. Canaccord Genuity Group reissued a “hold” rating and set a $57.00 target price (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

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.