Baskin Financial Services Inc. Sells 3,271 Shares of Rogers Communications Inc. (RCI)

Baskin Financial Services Inc. decreased its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 314,961 shares of the Wireless communications provider’s stock after selling 3,271 shares during the quarter. Rogers Communications accounts for about 3.1% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 13th largest holding. Baskin Financial Services Inc.’s holdings in Rogers Communications were worth $16,938,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of RCI. Alliancebernstein L.P. grew its position in shares of Rogers Communications by 11.4% during the third quarter. Alliancebernstein L.P. now owns 83,434 shares of the Wireless communications provider’s stock worth $4,289,000 after buying an additional 8,533 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Rogers Communications by 42.4% during the third quarter. Bank of New York Mellon Corp now owns 550,553 shares of the Wireless communications provider’s stock worth $28,305,000 after buying an additional 163,938 shares in the last quarter. Riverhead Capital Management LLC grew its position in shares of Rogers Communications by 81.8% during the third quarter. Riverhead Capital Management LLC now owns 4,000 shares of the Wireless communications provider’s stock worth $204,000 after buying an additional 1,800 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rogers Communications during the third quarter worth approximately $354,000. Finally, Mackenzie Financial Corp grew its position in shares of Rogers Communications by 22.3% during the third quarter. Mackenzie Financial Corp now owns 3,022,789 shares of the Wireless communications provider’s stock worth $155,402,000 after buying an additional 550,441 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

A number of research firms have recently weighed in on RCI. Royal Bank of Canada reissued a “hold” rating on shares of Rogers Communications in a research report on Tuesday, April 9th. ValuEngine downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Raymond James downgraded shares of Rogers Communications to a “market perform” rating in a report on Wednesday, February 27th. Zacks Investment Research downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Finally, TD Securities downgraded shares of Rogers Communications to a “buy” rating in a report on Wednesday, February 6th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.68.



Rogers Communications stock traded up $0.08 during mid-day trading on Monday, reaching $53.43. The company’s stock had a trading volume of 173,812 shares, compared to its average volume of 305,988. The company has a market cap of $27.52 billion, a PE ratio of 15.95, a P/E/G ratio of 3.00 and a beta of 0.71. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.72 and a quick ratio of 0.65. Rogers Communications Inc. has a twelve month low of $44.81 and a twelve month high of $55.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 24th. The Wireless communications provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.32. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.87 billion. Rogers Communications had a net margin of 13.63% and a return on equity of 29.05%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities research analysts anticipate that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were issued a $0.3762 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Monday, March 11th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s payout ratio is currently 45.37%.

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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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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

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