Rogers Communications Inc. (NYSE:RCI) Shares Sold by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. lessened its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 57.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,010 shares of the Wireless communications provider’s stock after selling 187,985 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in Rogers Communications were worth $5,792,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gulf International Bank UK Ltd increased its stake in shares of Rogers Communications by 13.4% in the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock worth $111,000 after acquiring an additional 322 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Rogers Communications by 22.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,544,016 shares of the Wireless communications provider’s stock valued at $165,895,000 after buying an additional 660,486 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Rogers Communications in the 4th quarter valued at about $228,000. FIL Ltd boosted its stake in shares of 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. Finally, Barometer Capital Management Inc. acquired a new stake in Rogers Communications during the fourth quarter worth about $1,092,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RCI. Barclays lowered their price target on shares of 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 downgraded Rogers Communications from a “hold” rating to a “sell” rating in a research report on Saturday, June 15th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

Rogers Communications Stock Down 1.1 %

Shares of Rogers Communications stock traded down $0.38 on Tuesday, reaching $36.20. 874,637 shares of the company were exchanged, compared to its average volume of 716,180. Rogers Communications Inc. has a 1-year low of $35.55 and a 1-year high of $48.19. The stock’s 50 day moving average price is $38.65 and its 200-day moving average price is $42.30. 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 company has a market cap of $19.18 billion, a P/E ratio of 45.24, a price-to-earnings-growth ratio of 0.98 and a beta of 0.68.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. As a group, equities analysts forecast that Rogers Communications Inc. will post 3.66 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be issued a $0.3658 dividend. This represents a $1.46 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s payout ratio is currently 181.25%.

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.