Value Partners Investments Inc. Grows Position in Rogers Communications Inc. (NYSE:RCI)

Value Partners Investments Inc. lifted its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,722,621 shares of the Wireless communications provider's stock after buying an additional 23,080 shares during the quarter. Rogers Communications makes up about 2.0% of Value Partners Investments Inc.'s investment portfolio, making the stock its 7th largest position. Value Partners Investments Inc. owned about 0.33% of Rogers Communications worth $69,267,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of 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 worth $233,099,000 after buying an additional 2,206,690 shares in the last quarter. National Bank of Canada FI grew its position in Rogers Communications by 37.5% in the first quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider's stock worth $220,193,000 after acquiring an additional 1,519,894 shares in the last quarter. Mackenzie Financial Corp grew its position in Rogers Communications by 10.2% in the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider's stock worth $390,738,000 after acquiring an additional 974,937 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Rogers Communications by 22.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,544,016 shares of the Wireless communications provider's stock worth $165,895,000 after acquiring an additional 660,486 shares during the last quarter. Finally, Burgundy Asset Management Ltd. raised its position 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 valued at $93,772,000 after purchasing an additional 603,876 shares during the period. Institutional investors own 45.49% of the company's stock.

Rogers Communications Trading Down 1.3 %

Shares of NYSE RCI traded down $0.49 during mid-day trading on Monday, reaching $38.52. The company had a trading volume of 683,441 shares, compared to its average volume of 733,745. The business's 50-day moving average is $39.92 and its 200-day moving average is $39.07. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. Rogers Communications Inc. has a 52 week low of $35.55 and a 52 week high of $48.19.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.33. The firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The business's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. Equities analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th were issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Monday, September 9th. Rogers Communications's payout ratio is presently 185.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Canaccord Genuity Group reiterated a "hold" rating and set a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. TD Securities upped their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Canaccord Genuity Group downgraded shares of Rogers Communications from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. StockNews.com upgraded Rogers Communications from a "sell" rating to a "hold" rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets increased their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.75.

Rogers Communications Company 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.