Rogers Communications Inc. (NYSE:RCI) Short Interest Up 65.2% in December

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 11,550,000 shares, an increase of 65.2% from the November 30th total of 6,990,000 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 10.9 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cromwell Holdings LLC bought a new stake in shares of Rogers Communications during the 3rd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 522 shares during the period. Grove Bank & Trust boosted its position in Rogers Communications by 41.0% during the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 302 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Rogers Communications during the 2nd quarter worth approximately $55,000. Finally, Nexus Investment Management ULC bought a new position in shares of Rogers Communications in the 3rd quarter worth approximately $203,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Trading Down 0.9 %

Shares of NYSE:RCI traded down $0.29 during midday trading on Friday, hitting $30.36. 1,101,410 shares of the stock traded hands, compared to its average volume of 820,660. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The business’s 50 day moving average is $35.03 and its two-hundred day moving average is $37.51. The stock has a market capitalization of $16.23 billion, a PE ratio of 14.81, a P/E/G ratio of 1.06 and a beta of 0.67. Rogers Communications has a one year low of $30.06 and a one year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. Rogers Communications’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 EPS. As a group, research analysts forecast that Rogers Communications will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s payout ratio is 71.71%.

Analyst Ratings Changes

RCI has been the subject of several analyst reports. TD Securities upped their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets increased their target price on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, Morgan Stanley started coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Rogers Communications presently has an average rating of “Hold” and an average target price of $61.75.

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.