Clearbridge Investments LLC Trims Stake in Rogers Communications Inc. (NYSE:RCI)

Clearbridge Investments LLC lowered its holdings in Rogers Communications Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,850 shares of the Wireless communications provider’s stock after selling 630 shares during the quarter. Clearbridge Investments LLC’s holdings in Rogers Communications were worth $426,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Crossmark Global Holdings Inc. raised its stake in Rogers Communications by 1.6% in the fourth 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 raised its position in shares of Rogers Communications by 7.9% during the 3rd 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 in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Rogers Communications by 4.2% during the 4th 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 position in Rogers Communications by 3.1% in the fourth 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 in the last quarter. Finally, State Street Corp increased its stake in Rogers Communications by 0.5% in the third 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. Institutional investors own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of research reports. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley initiated coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Scotiabank lowered shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.75.

Get Our Latest Stock Analysis on RCI

Rogers Communications Stock Up 3.0 %

Shares of NYSE RCI opened at $26.06 on Friday. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.43 and a beta of 0.67. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The firm’s fifty day moving average is $27.78 and its 200 day moving average is $32.53. Rogers Communications Inc. has a 52 week low of $24.76 and a 52 week high of $41.84.

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS 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%. On average, equities research analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were given a $0.347 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.33%. Rogers Communications’s dividend payout ratio is currently 59.48%.

About Rogers Communications

(Free Report)

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.

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