Zurcher Kantonalbank Zurich Cantonalbank Has $39.92 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 991,773 shares of the Wireless communications provider’s stock after selling 40,058 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rogers Communications were worth $39,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. 1832 Asset Management L.P. boosted its position in shares of Rogers Communications by 2.6% during the second quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock worth $425,341,000 after buying an additional 288,614 shares during the period. Mackenzie Financial Corp boosted its position in shares of Rogers Communications by 10.2% during the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after buying an additional 974,937 shares during the period. Toronto Dominion Bank boosted its position in shares of Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after buying an additional 2,206,690 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after buying an additional 3,980,525 shares during the period. Finally, Letko Brosseau & Associates Inc. boosted its position in shares of Rogers Communications by 1.5% during the second quarter. Letko Brosseau & Associates Inc. now owns 4,004,074 shares of the Wireless communications provider’s stock worth $148,066,000 after buying an additional 57,245 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Stock Performance

RCI opened at $35.51 on Friday. Rogers Communications Inc. has a 52-week low of $34.95 and a 52-week high of $48.19. The firm has a market capitalization of $18.92 billion, a PE ratio of 17.32, 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. The business’s 50-day simple moving average is $37.61 and its 200 day simple moving average is $38.46.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, sell-side analysts expect that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.07%. Rogers Communications’s dividend payout ratio (DPR) is currently 72.20%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. TD Securities upped their price objective on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets upped their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have issued 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 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.