National Bank of Canada FI Raises Position in Rogers Communications Inc. (NYSE:RCI)

National Bank of Canada FI grew its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 18.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,239,553 shares of the Wireless communications provider’s stock after acquiring an additional 977,924 shares during the quarter. National Bank of Canada FI owned about 1.17% of Rogers Communications worth $250,886,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cromwell Holdings LLC bought a new stake in shares of Rogers Communications in the 3rd quarter worth approximately $31,000. Ridgewood Investments LLC bought a new stake in shares of Rogers Communications in the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rogers Communications by 110.1% in the 2nd 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 last quarter. Grove Bank & Trust grew its position in 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 during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Rogers Communications in the 2nd quarter worth approximately $55,000. Institutional investors own 45.49% of the company’s stock.

Analyst Ratings Changes

RCI has been the topic of several recent analyst reports. TD Securities raised their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets raised their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications Trading Down 2.7 %

NYSE:RCI opened at $35.15 on Friday. Rogers Communications Inc. has a 12 month low of $34.83 and a 12 month 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 company has a 50-day moving average price of $37.17 and a 200-day moving average price of $38.33. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 1.11 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its 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 firm had revenue of $5.13 billion for 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 revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 EPS. Equities analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.11%. Rogers Communications’s dividend payout ratio (DPR) is currently 72.20%.

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.