Forsta AP Fonden Buys 25,700 Shares of Rogers Communications Inc. (NYSE:RCI)

Forsta AP Fonden grew its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 45.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,800 shares of the Wireless communications provider's stock after acquiring an additional 25,700 shares during the quarter. Forsta AP Fonden's holdings in Rogers Communications were worth $3,293,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. TD Asset Management Inc boosted its holdings in shares of Rogers Communications by 4.2% in the 1st quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider's stock worth $473,204,000 after purchasing an additional 463,368 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Rogers Communications by 2.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider's stock worth $425,341,000 after buying an additional 288,614 shares during the period. Mackenzie Financial Corp lifted its stake 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 during the period. 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 worth $233,099,000 after purchasing an additional 2,206,690 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings 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 buying an additional 1,519,894 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Canaccord Genuity Group lowered shares of Rogers Communications from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. BMO Capital Markets increased their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $57.00 price target (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 stock a "buy" rating in a research note on Thursday, September 19th. Finally, StockNews.com upgraded shares of Rogers Communications from a "sell" rating to a "hold" rating in a research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.75.

Rogers Communications Stock Up 1.5 %

Shares of RCI stock traded up $0.55 during mid-day trading on Wednesday, hitting $36.85. The company's stock had a trading volume of 891,932 shares, compared to its average volume of 728,836. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65. Rogers Communications Inc. has a 52-week low of $35.55 and a 52-week high of $48.19. The stock has a market cap of $19.53 billion, a price-to-earnings ratio of 46.06, a PEG ratio of 1.06 and a beta of 0.67. The business has a 50-day moving average price of $39.54 and a 200 day moving average price of $38.82.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.35. The business 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 23.15% and a net margin of 4.28%. Rogers Communications's revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 EPS. Research analysts predict that Rogers Communications Inc. will post 3.56 EPS 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 issued a $0.3611 dividend. This represents a $1.44 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications's dividend payout ratio is currently 183.75%.

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.