JTC Employer Solutions Trustee Ltd Increases Stake in Rogers Communications Inc. (NYSE:RCI)

JTC Employer Solutions Trustee Ltd lifted its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,478 shares of the Wireless communications provider’s stock after acquiring an additional 807 shares during the period. JTC Employer Solutions Trustee Ltd’s holdings in Rogers Communications were worth $4,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barometer Capital Management Inc. acquired a new stake in shares of Rogers Communications during the 4th quarter worth about $1,092,000. Janney Montgomery Scott LLC acquired a new stake in shares of Rogers Communications during the 4th quarter worth about $1,719,000. CIBC Asset Management Inc raised its position in shares of Rogers Communications by 19.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,532,864 shares of the Wireless communications provider’s stock worth $71,988,000 after acquiring an additional 247,496 shares in the last quarter. TD Asset Management Inc raised its position in shares of Rogers Communications by 27.3% during the 4th quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock worth $520,980,000 after acquiring an additional 2,372,306 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Rogers Communications by 101.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock worth $5,040,000 after acquiring an additional 66,231 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analysts Set New Price Targets

RCI has been the topic of several research analyst reports. Barclays cut their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a research report on Saturday, June 15th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Rogers Communications Stock Performance

Shares of NYSE:RCI traded up $0.61 during trading on Wednesday, reaching $36.81. The company had a trading volume of 348,859 shares, compared to its average volume of 713,288. The firm has a market capitalization of $19.51 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 0.98 and a beta of 0.68. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72. The stock’s fifty day moving average price is $38.58 and its 200 day moving average price is $42.24. Rogers Communications Inc. has a fifty-two week low of $35.55 and a fifty-two week high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. As a group, equities research analysts predict that Rogers Communications Inc. will post 3.66 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be issued a $0.3658 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Monday, June 10th. Rogers Communications’s payout ratio is currently 181.25%.

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.