Rogers Communications Inc. (NYSE:RCI) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 9.3% during the fourth quarter, Holdings Channel reports. The fund owned 11,715,865 shares of the Wireless communications provider’s stock after selling 1,206,474 shares during the quarter. Rogers Communications comprises 2.0% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 19th biggest holding. Beutel Goodman & Co Ltd.’s holdings in Rogers Communications were worth $359,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its holdings in Rogers Communications by 1.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock valued at $725,000 after purchasing an additional 379 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Rogers Communications by 7.9% during the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after buying an additional 551 shares during the period. PNC Financial Services Group Inc. boosted its position in Rogers Communications by 4.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock worth $436,000 after acquiring an additional 571 shares during the last quarter. Waldron Private Wealth LLC grew its stake in Rogers Communications by 3.1% in the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock worth $682,000 after acquiring an additional 660 shares during the period. Finally, State Street Corp raised its holdings in Rogers Communications by 0.5% in the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock valued at $5,550,000 after acquiring an additional 661 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analysts Forecast Growth

RCI has been the topic of several analyst reports. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley assumed coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Rogers Communications presently has an average rating of “Hold” and an average price target of $61.75.

Rogers Communications Price Performance

Shares of Rogers Communications stock opened at $27.28 on Friday. The business’s fifty day moving average price is $27.97 and its 200 day moving average price is $32.94. The stock has a market capitalization of $14.62 billion, a P/E ratio of 11.76, a PEG ratio of 1.43 and a beta of 0.67. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, research analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.09%. Rogers Communications’s dividend payout ratio (DPR) is currently 59.48%.

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.