18,066 Shares in Rogers Communications Inc. (NYSE:RCI) Bought by MQS Management LLC

MQS Management LLC acquired a new position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,066 shares of the Wireless communications provider’s stock, valued at approximately $726,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cromwell Holdings LLC purchased a new position in shares of Rogers Communications in the 3rd quarter valued at about $31,000. Ridgewood Investments LLC acquired a new position in Rogers Communications during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. increased 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 valued at $37,000 after buying an additional 522 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Rogers Communications during the 1st quarter valued at approximately $42,000. Finally, Grove Bank & Trust boosted its stake in shares of Rogers Communications by 41.0% during the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after acquiring an additional 302 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RCI. Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. BMO Capital Markets raised their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, TD Securities upped their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications Price Performance

Rogers Communications stock opened at $35.79 on Wednesday. The stock has a market capitalization of $19.07 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.11 and a beta of 0.69. Rogers Communications Inc. has a 12-month low of $35.17 and a 12-month 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. The firm’s 50-day moving average is $38.78 and its two-hundred day moving average is $38.70.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the business earned $0.95 earnings per share. Rogers Communications’s revenue was up .7% compared to the same quarter last year. Equities analysts predict that Rogers Communications Inc. will post 3.55 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. Shareholders of record on Monday, December 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s dividend payout ratio is presently 72.20%.

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.