Guggenheim Capital LLC Grows Stock Position in Rogers Communications Inc. (NYSE:RCI)

Guggenheim Capital LLC raised its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 260.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,336 shares of the Wireless communications provider's stock after purchasing an additional 13,250 shares during the period. Guggenheim Capital LLC's holdings in Rogers Communications were worth $563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its stake in shares of Rogers Communications by 0.5% in the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider's stock worth $5,550,000 after buying an additional 661 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Rogers Communications in the 3rd quarter worth approximately $248,000. Franklin Resources Inc. grew its stake in shares of Rogers Communications by 25.7% in the 3rd quarter. Franklin Resources Inc. now owns 10,900 shares of the Wireless communications provider's stock worth $423,000 after buying an additional 2,232 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Rogers Communications by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,728,836 shares of the Wireless communications provider's stock worth $69,516,000 after buying an additional 15,609 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd lifted its position in Rogers Communications by 1.0% in the 4th quarter. JTC Employer Solutions Trustee Ltd now owns 101,365 shares of the Wireless communications provider's stock valued at $3,090,000 after acquiring an additional 956 shares in the last quarter. Institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RCI. Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Canaccord Genuity Group raised Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Barclays restated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Scotiabank downgraded Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.00.

Rogers Communications Price Performance

NYSE RCI traded up $0.19 during trading hours on Tuesday, reaching $25.68. The company's stock had a trading volume of 931,271 shares, compared to its average volume of 1,012,044. The firm's 50-day moving average price is $26.63 and its 200-day moving average price is $30.54. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a 1 year low of $23.18 and a 1 year high of $41.84. The company has a market capitalization of $13.77 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, equities research analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.62%. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date is Monday, June 9th. Rogers Communications's dividend payout ratio is 59.66%.

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.