Guardian Partners Inc. Acquires Shares of 280,175 Rogers Communications Inc. (NYSE:RCI)

Guardian Partners Inc. acquired a new stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 280,175 shares of the Wireless communications provider’s stock, valued at approximately $8,554,000.

Several other institutional investors have also bought and sold shares of RCI. Lindbrook Capital LLC lifted its position in Rogers Communications by 95.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after purchasing an additional 744 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after purchasing an additional 1,052 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Rogers Communications by 19.1% in the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock valued at $178,000 after acquiring an additional 930 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Rogers Communications in the third quarter valued at $206,000. Finally, Tidal Investments LLC purchased a new stake in shares of Rogers Communications in the third quarter valued at $248,000. Institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RCI. Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays reissued 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 given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.75.

Rogers Communications Trading Down 1.8 %

RCI stock opened at $27.39 on Friday. The company has a market capitalization of $14.69 billion, a PE ratio of 11.81, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 12 month low of $26.57 and a 12 month high of $41.84. The firm’s 50-day moving average is $28.08 and its 200 day moving average is $33.35. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, topping 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, research analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be paid a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

Rogers Communications 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.