Ontario Teachers Pension Plan Board Invests $716,000 in Rogers Communications Inc. (NYSE:RCI)

Ontario Teachers Pension Plan Board purchased a new stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,816 shares of the Wireless communications provider's stock, valued at approximately $716,000.

A number of other large investors also recently made changes to their positions in the stock. Toronto Dominion Bank raised its stake in Rogers Communications by 53.9% during 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 during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Rogers Communications by 86.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider's stock worth $104,965,000 after buying an additional 1,211,482 shares during the period. Mackenzie Financial Corp raised its stake in Rogers Communications by 10.2% during the 2nd 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 during the period. Burgundy Asset Management Ltd. raised its stake in Rogers Communications by 31.2% during the 2nd 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 period. Finally, Intact Investment Management Inc. raised its stake in Rogers Communications by 33.8% during 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 during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on RCI. Canaccord Genuity Group reaffirmed a "hold" rating and set a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications 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 report on Thursday, September 19th. TD Securities increased their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Finally, Canaccord Genuity Group cut Rogers Communications from a "buy" rating to a "hold" rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $61.75.

Rogers Communications Stock Up 0.5 %

RCI stock traded up $0.17 during trading hours on Friday, reaching $35.38. 1,045,840 shares of the stock were exchanged, compared to its average volume of 766,420. The company has a market cap of $18.85 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.11 and a beta of 0.69. The firm's 50-day moving average is $38.09 and its 200-day moving average is $38.58. 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 Inc. has a 12 month low of $34.95 and a 12 month high of $48.19.

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

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $0.3611 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, December 9th. Rogers Communications's payout ratio is 71.71%.

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.