Avanza Fonder AB Acquires New Position in Rogers Communications Inc. (NYSE:RCI)

Avanza Fonder AB acquired a new stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,366 shares of the Wireless communications provider's stock, valued at approximately $718,000.

A number of other hedge funds have also recently modified their holdings of the stock. Grove Bank & Trust lifted its position in shares of Rogers Communications by 41.0% in the third 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. Creative Planning lifted its holdings in Rogers Communications by 2.2% in the 3rd quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider's stock valued at $896,000 after purchasing an additional 486 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 522 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Rogers Communications by 7.9% during the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider's stock worth $301,000 after buying an additional 551 shares in the last quarter. Finally, State Street Corp raised its position in shares of Rogers Communications by 0.5% in the third quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider's stock valued at $5,550,000 after buying an additional 661 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Trading Down 1.0 %

RCI stock traded down $0.30 during midday trading on Monday, hitting $28.19. 773,024 shares of the company's stock were exchanged, compared to its average volume of 992,225. Rogers Communications Inc. has a 1-year low of $27.63 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 stock has a market capitalization of $15.07 billion, a PE ratio of 13.75, a P/E/G ratio of 0.91 and a beta of 0.69. The business has a 50-day simple moving average of $32.81 and a two-hundred day simple moving average of $36.71.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data 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 return on equity of 23.75% and a net margin of 7.34%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the company earned $0.95 EPS. The company's quarterly revenue was up .7% on a year-over-year basis. On average, sell-side analysts predict that Rogers Communications Inc. will post 3.52 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a $0.3611 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 5.12%. Rogers Communications's dividend payout ratio (DPR) is presently 68.78%.

Analysts Set New Price Targets

RCI has been the subject of several research reports. Bank of America cut shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. Morgan Stanley initiated coverage on Rogers Communications in a report on Monday, December 16th. They issued an "underweight" rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Rogers Communications has a consensus rating of "Hold" and an average 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.