Massachusetts Financial Services Co. MA Raises Stock Position in Rogers Communications Inc. (NYSE:RCI)

Massachusetts Financial Services Co. MA grew its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 90.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,896,489 shares of the Wireless communications provider's stock after buying an additional 1,375,043 shares during the period. Massachusetts Financial Services Co. MA owned 0.54% of Rogers Communications worth $115,775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RCI. Toronto Dominion Bank raised its holdings in Rogers Communications by 53.9% in the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider's stock valued at $233,099,000 after acquiring an additional 2,206,690 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Rogers Communications by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider's stock valued at $104,965,000 after purchasing an additional 1,211,482 shares during the last quarter. Mackenzie Financial Corp lifted its position in 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 in the last quarter. Burgundy Asset Management Ltd. boosted its stake in Rogers Communications by 31.2% during the second quarter. Burgundy Asset Management Ltd. now owns 2,536,482 shares of the Wireless communications provider's stock worth $93,772,000 after buying an additional 603,876 shares during the last quarter. Finally, Intact Investment Management Inc. grew its holdings in 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 valued at $73,752,000 after buying an additional 503,550 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

NYSE RCI opened at $35.38 on Friday. The stock has a fifty day simple moving average of $37.99 and a 200-day simple moving average of $38.56. 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 cap of $18.85 billion, a PE ratio of 17.26, a P/E/G ratio of 1.09 and a beta of 0.69. Rogers Communications Inc. has a twelve month low of $34.95 and a twelve month high of $48.19.

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

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications's payout ratio is 72.20%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RCI. TD Securities lifted their price target on 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 lifted their target price 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Rogers Communications presently has a consensus rating of "Moderate Buy" and an average price target 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.