Rogers Communications Inc. (NYSE:RCI) Short Interest Update

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 7,490,000 shares, a growth of 34.5% from the January 31st total of 5,570,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 6.4 days. Currently, 2.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Rogers Communications

Hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings in shares of Rogers Communications by 95.1% in 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 in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Rogers Communications by 141.4% in 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 in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Rogers Communications during the third quarter valued at $206,000. Headlands Technologies LLC raised its stake 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 valued at $163,000 after purchasing an additional 3,888 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake 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 valued at $178,000 after purchasing an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

RCI opened at $28.08 on Thursday. The firm has a market cap of $15.01 billion, a P/E ratio of 12.10, a PEG ratio of 1.43 and a beta of 0.68. Rogers Communications has a 1-year low of $26.57 and a 1-year high of $44.53. The company has a 50 day simple moving average of $28.66 and a two-hundred day simple moving average of $34.39. 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 released its 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%. Equities analysts forecast that Rogers Communications will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be issued a $0.347 dividend. This represents a $1.39 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is presently 59.05%.

Analysts Set New Price Targets

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

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.