Caisse DE Depot ET Placement DU Quebec Has $61.38 Million Position in Rogers Communications Inc. (NYSE:RCI)

Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 20.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,524,893 shares of the Wireless communications provider’s stock after purchasing an additional 258,153 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Rogers Communications were worth $61,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. 1832 Asset Management L.P. grew its stake in Rogers Communications by 2.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock valued at $425,341,000 after acquiring an additional 288,614 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Rogers Communications by 10.2% during the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after purchasing an additional 974,937 shares during the period. Toronto Dominion Bank grew its position in Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after purchasing an additional 2,206,690 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after buying an additional 3,980,525 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its stake in shares of Rogers Communications by 1.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 4,004,074 shares of the Wireless communications provider’s stock valued at $148,066,000 after buying an additional 57,245 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RCI. TD Securities upped their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets raised their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.75.

Rogers Communications Price Performance

NYSE RCI opened at $35.74 on Friday. The firm has a market cap of $19.04 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The stock’s 50-day moving average is $37.52 and its two-hundred day moving average is $38.43. Rogers Communications Inc. has a fifty-two week low of $34.95 and a fifty-two week high of $48.19. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the company earned $0.95 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts anticipate that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 71.71%.

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.