Rogers Communications Inc. (NYSE:RCI) Shares Acquired by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. increased its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 31.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,536,482 shares of the Wireless communications provider’s stock after purchasing an additional 603,876 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Rogers Communications were worth $93,772,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RCI. Gold Investment Management Ltd. lifted its stake in Rogers Communications by 1.3% during the 1st quarter. Gold Investment Management Ltd. now owns 21,085 shares of the Wireless communications provider’s stock valued at $864,000 after acquiring an additional 270 shares during the period. Gulf International Bank UK Ltd lifted its position in Rogers Communications by 13.4% during the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock valued at $111,000 after purchasing an additional 322 shares during the period. Assetmark Inc. boosted its holdings in Rogers Communications by 1.8% in the fourth quarter. Assetmark Inc. now owns 18,891 shares of the Wireless communications provider’s stock valued at $884,000 after purchasing an additional 331 shares during the last quarter. First Affirmative Financial Network grew its position in Rogers Communications by 11.2% during the 2nd quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider’s stock worth $239,000 after purchasing an additional 649 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Rogers Communications by 106.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock valued at $68,000 after buying an additional 745 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Trading Down 2.8 %

RCI stock opened at $39.64 on Thursday. Rogers Communications Inc. has a 52-week low of $35.55 and a 52-week high of $48.19. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58. The firm has a market cap of $21.01 billion, a P/E ratio of 49.55, a PEG ratio of 1.06 and a beta of 0.67. The company’s 50-day simple moving average is $39.35 and its 200-day simple moving average is $39.41.

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

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 9th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s payout ratio is presently 185.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RCI shares. Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Canaccord Genuity Group restated a “hold” rating and issued a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Finally, StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.