Rogers Communications Inc. (NYSE:RCI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 10.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,633,981 shares of the Wireless communications provider's stock after acquiring an additional 156,217 shares during the quarter. Geode Capital Management LLC owned about 0.31% of Rogers Communications worth $66,176,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Rogers Communications by 39.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 571,923 shares of the Wireless communications provider's stock worth $21,150,000 after acquiring an additional 160,768 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Rogers Communications in the second quarter valued at $37,000. Tobam increased its position in shares of Rogers Communications by 6.3% in the second quarter. Tobam now owns 14,995 shares of the Wireless communications provider's stock valued at $555,000 after buying an additional 891 shares in the last quarter. VAUGHAN & Co SECURITIES INC. raised its stake in shares of Rogers Communications by 15.7% during the 2nd quarter. VAUGHAN & Co SECURITIES INC. now owns 14,726 shares of the Wireless communications provider's stock worth $545,000 after buying an additional 1,994 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its position in shares of Rogers Communications by 33.8% in the 2nd quarter. Intact Investment Management Inc. now owns 1,994,221 shares of the Wireless communications provider's stock worth $73,752,000 after buying an additional 503,550 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communications Trading Up 1.2 %

RCI stock traded up $0.36 during midday trading on Friday, hitting $30.75. The stock had a trading volume of 1,676,617 shares, compared to its average volume of 821,721. Rogers Communications Inc. has a 12-month low of $30.24 and a 12-month high of $48.19. The firm has a market cap of $16.43 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. The company's 50-day moving average price is $35.82 and its 200 day moving average price is $37.80. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion during 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 quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, equities research analysts predict that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 4.70%. Rogers Communications's dividend payout ratio is presently 71.71%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RCI shares. TD Securities lifted their target price on shares of 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 lifted 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. Finally, Morgan Stanley initiated coverage on Rogers Communications in a report on Monday, December 16th. They set an "underweight" rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.