Rogers Communications Inc. (NYSE:RCI) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 30.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,050,796 shares of the Wireless communications provider’s stock after selling 1,785,000 shares during the period. National Bank of Canada FI owned 0.77% of Rogers Communications worth $188,138,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Rogers Communications by 62.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock worth $27,000 after buying an additional 270 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Rogers Communications in the 3rd quarter valued at about $29,000. Fifth Third Bancorp boosted its position in shares of Rogers Communications by 120.1% during the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock valued at $31,000 after purchasing an additional 359 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 499 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Rogers Communications in the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Ratings Changes

RCI has been the subject of a number of recent analyst reports. Barclays dropped their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. StockNews.com downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating and three have issued 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 price target of $46.00.

Rogers Communications Stock Performance

Shares of Rogers Communications stock traded up $0.52 on Friday, reaching $38.43. The stock had a trading volume of 805,862 shares, compared to its average volume of 945,229. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.72 and a current ratio of 0.77. The business’s 50-day moving average price is $41.05 and its two-hundred day moving average price is $43.08. The stock has a market cap of $20.31 billion, a P/E ratio of 48.04, a price-to-earnings-growth ratio of 1.01 and a beta of 0.62. Rogers Communications Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $49.60.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. On average, sell-side analysts forecast that Rogers Communications Inc. will post 3.64 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be given a dividend of $0.3658 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s dividend payout ratio is currently 183.75%.

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.