Beutel Goodman & Co Ltd. Lowers Stake in Rogers Communications Inc. (NYSE:RCI)

Beutel Goodman & Co Ltd. trimmed its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 9.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,715,865 shares of the Wireless communications provider’s stock after selling 1,206,474 shares during the period. Rogers Communications accounts for approximately 2.0% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 19th largest position. Beutel Goodman & Co Ltd. owned about 2.19% of Rogers Communications worth $359,980,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RCI. Lindbrook Capital LLC raised its stake in Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 744 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of 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 worth $55,000 after purchasing an additional 1,052 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Rogers Communications in the 3rd quarter valued at $206,000. V Square Quantitative Management LLC increased its stake in Rogers Communications by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock valued at $178,000 after buying an additional 930 shares during the period. Finally, Tidal Investments LLC purchased a new position in Rogers Communications during the 3rd quarter worth $248,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Morgan Stanley began coverage on Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $27.28 on Friday. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The business’s 50 day simple moving average is $27.97 and its 200-day simple moving average is $32.94. Rogers Communications Inc. has a 12 month low of $26.57 and a 12 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 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. As a group, equities analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

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

Rogers Communications Company 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.