Rogers Communications Inc. (NYSE:RCI) Shares Purchased by Fmr LLC

FMR LLC increased its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,496,298 shares of the Wireless communications provider's stock after acquiring an additional 68,759 shares during the period. FMR LLC owned about 0.47% of Rogers Communications worth $100,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Grove Bank & Trust boosted its holdings in Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock worth $42,000 after buying an additional 302 shares in the last quarter. Creative Planning boosted its position in Rogers Communications by 2.2% during the third quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider's stock worth $896,000 after purchasing an additional 486 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider's stock valued at $37,000 after acquiring an additional 522 shares during the period. Signaturefd LLC increased its stake in shares of Rogers Communications by 11.1% during the third quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider's stock worth $266,000 after purchasing an additional 664 shares in the last quarter. Finally, Cromwell Holdings LLC acquired a new position in shares of Rogers Communications during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. TD Securities increased their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. BMO Capital Markets raised their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.75.

Rogers Communications Trading Up 0.2 %

Shares of RCI traded up $0.07 during mid-day trading on Thursday, reaching $36.11. The stock had a trading volume of 419,949 shares, compared to its average volume of 774,977. Rogers Communications Inc. has a 52-week low of $34.95 and a 52-week high of $48.19. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 1.11 and a beta of 0.67. The business's fifty day moving average is $37.17 and its 200 day moving average is $38.33. 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 (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm earned $0.95 EPS. The business's revenue was up .7% compared to the same quarter last year. On average, sell-side analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $0.3611 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Monday, December 9th. Rogers Communications's dividend payout ratio (DPR) is presently 72.20%.

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.