Lincluden Management Ltd. increased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,053,604 shares of the Wireless communications provider’s stock after purchasing an additional 71,600 shares during the period. Rogers Communications makes up 4.8% of Lincluden Management Ltd.’s portfolio, making the stock its 7th biggest position. Lincluden Management Ltd.’s holdings in Rogers Communications were worth $51,318,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its position in Rogers Communications by 10.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,784,980 shares of the Wireless communications provider’s stock worth $86,982,000 after purchasing an additional 170,518 shares in the last quarter. Signition LP acquired a new position in Rogers Communications in the third quarter worth about $521,000. Tower Research Capital LLC TRC acquired a new position in Rogers Communications in the third quarter worth about $946,000. Symmetry Partners LLC acquired a new position in Rogers Communications in the third quarter worth about $253,000. Finally, Willingdon Wealth Management raised its position in Rogers Communications by 23.4% in the third quarter. Willingdon Wealth Management now owns 1,549 shares of the Wireless communications provider’s stock worth $75,000 after purchasing an additional 294 shares in the last quarter. 43.43% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE RCI traded up $0.44 during mid-day trading on Monday, hitting $47.73. 305,603 shares of the stock were exchanged, compared to its average volume of 431,281. The company has a market cap of $24.11 billion, a P/E ratio of 14.25, a PEG ratio of 3.70 and a beta of 0.51. The stock’s fifty day simple moving average is $48.43 and its two-hundred day simple moving average is $50.99. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.65 and a current ratio of 0.71. Rogers Communications Inc. has a twelve month low of $45.94 and a twelve month high of $55.93.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, October 23rd. The Wireless communications provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.19. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.87 billion. Rogers Communications had a net margin of 13.79% and a return on equity of 25.20%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share. As a group, equities research analysts predict that Rogers Communications Inc. will post 3.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.378 per share. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.51 annualized dividend and a dividend yield of 3.17%. Rogers Communications’s dividend payout ratio (DPR) is presently 44.78%.
Several research analysts recently issued reports on RCI shares. BMO Capital Markets dropped their price target on shares of Rogers Communications from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. ValuEngine raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. TD Securities raised shares of Rogers Communications to a “buy” rating in a report on Monday, October 21st. Echelon Wealth Partners raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised shares of Rogers Communications from a “sector perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $61.35.
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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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