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 (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%.
TRADEMARK VIOLATION NOTICE: This piece was reported by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://dakotafinancialnews.com/2019/04/15/baskin-financial-services-inc-sells-3271-shares-of-rogers-communications-inc-rci.html.
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.
Want to see what other hedge funds are holding RCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B).
Receive News & Ratings for Rogers Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communications and related companies with MarketBeat.com's FREE daily email newsletter.