23,330 Shares in Rogers Communications Inc. (NYSE:RCI) Purchased by Barometer Capital Management Inc.

Barometer Capital Management Inc. bought a new stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,330 shares of the Wireless communications provider's stock, valued at approximately $1,092,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Canoe Financial LP boosted its position in shares of Rogers Communications by 1,575.9% during the 4th quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider's stock valued at $744,432,000 after acquiring an additional 14,954,351 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Rogers Communications by 10.2% during the 4th quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider's stock valued at $594,848,000 after buying an additional 1,177,264 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Rogers Communications by 27.3% during the 4th quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider's stock valued at $520,980,000 after buying an additional 2,372,306 shares in the last quarter. Mackenzie Financial Corp increased its stake in Rogers Communications by 3.1% in the 4th quarter. Mackenzie Financial Corp now owns 9,433,774 shares of the Wireless communications provider's stock worth $441,843,000 after purchasing an additional 285,730 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of Rogers Communications by 0.9% during the third quarter. Toronto Dominion Bank now owns 5,092,255 shares of the Wireless communications provider's stock valued at $195,492,000 after buying an additional 46,553 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on RCI shares. StockNews.com upgraded Rogers Communications from a "sell" rating to a "hold" rating in a research report on Friday. Barclays reduced their price target on Rogers Communications from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Rogers Communications presently has an average rating of "Moderate Buy" and a consensus target price of $46.00.

Rogers Communications Stock Up 0.0 %

Shares of RCI traded up $0.01 during trading hours on Tuesday, hitting $38.19. The company had a trading volume of 682,843 shares, compared to its average volume of 699,930. The company has a market capitalization of $20.24 billion, a PE ratio of 47.74, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a one year low of $36.55 and a one year high of $48.19. The company's fifty day moving average price is $39.02 and its two-hundred day moving average price is $43.00.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. As a group, equities analysts forecast that Rogers Communications Inc. will post 3.64 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 10th will be issued a dividend of $0.3658 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications's dividend payout ratio is currently 183.75%.

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.