Rogers Communications Inc. (NYSE:RCI) Short Interest Up 27.6% in February

Rogers Communications Inc. (NYSE:RCI) (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.

Rogers Communications Stock Up 0.8 %

Shares of Rogers Communications stock traded up $0.24 during trading on Monday, reaching $28.21. The stock had a trading volume of 547,113 shares, compared to its average volume of 868,011. The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.43 and a beta of 0.67. The stock has a fifty day moving average price of $28.31 and a two-hundred day moving average price of $33.74. Rogers Communications has a 52 week low of $26.57 and a 52 week high of $42.96. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (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.