Rogers Communications Inc. (NYSE:RCI) Shares Bought by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. boosted its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 2.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 247,530 shares of the Wireless communications provider’s stock after acquiring an additional 7,050 shares during the period. Rogers Communications accounts for about 3.2% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 6th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Rogers Communications were worth $9,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Rogers Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 247,834 shares of the Wireless communications provider’s stock valued at $10,161,000 after buying an additional 6,221 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Rogers Communications by 10.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,210 shares of the Wireless communications provider’s stock valued at $951,000 after buying an additional 2,257 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Rogers Communications by 10.3% in the 1st quarter. Clearbridge Investments LLC now owns 20,237 shares of the Wireless communications provider’s stock valued at $830,000 after buying an additional 1,884 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Rogers Communications by 104.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,100 shares of the Wireless communications provider’s stock valued at $209,000 after buying an additional 2,600 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Rogers Communications by 42.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 444,990 shares of the Wireless communications provider’s stock valued at $18,262,000 after buying an additional 133,652 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Up 0.2 %

Shares of Rogers Communications stock opened at $35.80 on Wednesday. The company has a market cap of $19.07 billion, a P/E ratio of 17.46, a PEG ratio of 1.11 and a beta of 0.69. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. Rogers Communications Inc. has a one year low of $35.17 and a one year high of $48.19. The firm has a fifty day moving average of $38.30 and a two-hundred day moving average of $38.63.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. On average, analysts forecast that Rogers Communications Inc. will post 3.55 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.04%. Rogers Communications’s dividend payout ratio is presently 72.20%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RCI. TD Securities upped their target price on shares of 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 increased their price target 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. Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

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.