Rogers Communications Inc. (NYSE:RCI) Shares Purchased by JTC Employer Solutions Trustee Ltd

JTC Employer Solutions Trustee Ltd boosted its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 101,365 shares of the Wireless communications provider’s stock after buying an additional 956 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Rogers Communications were worth $3,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCI. The Manufacturers Life Insurance Company boosted its position in shares of Rogers Communications by 371.0% during the third 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 during the period. Toronto Dominion Bank boosted its position in shares of 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 worth $233,099,000 after buying an additional 2,206,690 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Rogers Communications by 90.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after buying an additional 1,375,043 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Rogers Communications by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after buying an additional 1,211,482 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after buying an additional 977,924 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analysts Set New Price Targets

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

Rogers Communications Stock Performance

Shares of RCI traded up $0.38 during midday trading on Monday, reaching $29.38. 260,290 shares of the stock were exchanged, compared to its average volume of 897,243. The business’s 50-day moving average price is $33.62 and its 200 day moving average price is $36.99. 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 Inc. has a twelve month low of $28.89 and a twelve month high of $48.19. The company has a market capitalization of $15.70 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.06 and a beta of 0.69.

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

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $0.3611 dividend. This represents a $1.44 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 68.78%.

Rogers Communications 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.