Rogers Communications Inc. (NYSE:RCI) Stock Position Raised by PDT Partners LLC

PDT Partners LLC lifted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 15.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,490 shares of the Wireless communications provider’s stock after purchasing an additional 12,758 shares during the period. PDT Partners LLC’s holdings in Rogers Communications were worth $3,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cromwell Holdings LLC purchased a new position in Rogers Communications in the 3rd quarter worth about $31,000. Ridgewood Investments LLC purchased a new position in shares of Rogers Communications in the second quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares during the period. Grove Bank & Trust lifted its position in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 302 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Rogers Communications in the 2nd quarter worth approximately $55,000. 45.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCI has been the subject of a number of research analyst reports. TD Securities increased 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. BMO Capital Markets raised their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report 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 company. According to MarketBeat, Rogers Communications currently has an average rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $35.75 on Friday. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.10 and a beta of 0.69. Rogers Communications Inc. has a 1 year low of $34.95 and a 1 year high of $48.19. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The business has a fifty day simple moving average of $37.52 and a 200 day simple moving average of $38.44.

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

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 71.71%.

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 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.