Rogers Communications Inc. (NYSE:RCI – Get Free Report) (TSE:RCI.B) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 9,560,000 shares, an increase of 27.6% from the February 13th total of 7,490,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is presently 8.2 days. Approximately 2.5% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on RCI shares. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley assumed coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.75.
Read Our Latest Stock Report on RCI
Rogers Communications Stock Up 0.8 %
Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, beating 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%. Sell-side analysts predict that Rogers Communications will post 3.57 EPS for the current fiscal year.
Rogers Communications Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is presently 59.48%.
Hedge Funds Weigh In On Rogers Communications
Institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC increased 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 worth $47,000 after buying an additional 744 shares during the last quarter. Jones Financial Companies Lllp increased 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 worth $55,000 after buying an additional 1,052 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Rogers Communications during the third quarter worth approximately $206,000. Headlands Technologies LLC increased its position in Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock worth $163,000 after buying an additional 3,888 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after buying an additional 930 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.
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.
See Also
- Five stocks we like better than Rogers Communications
- Investing in Commodities: What Are They? How to Invest in Them
- Can TikTok Stock Picks Really Make You Rich?
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- The “Quality” Rotation: Back to Basics Investing
- Most active stocks: Dollar volume vs share volume
- Occidental Petroleum: 4 Reasons to Love These Prices
Receive News & Ratings for Rogers Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communications and related companies with MarketBeat.com's FREE daily email newsletter.