BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Position in Rogers Communications Inc. (NYSE:RCI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 1,046.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 599,476 shares of the Wireless communications provider's stock after purchasing an additional 547,201 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.11% of Rogers Communications worth $24,101,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cromwell Holdings LLC purchased a new stake in shares of Rogers Communications during the third quarter worth about $31,000. Ridgewood Investments LLC purchased a new stake in Rogers Communications during the 2nd quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Rogers Communications by 110.1% during the second 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 last quarter. Grove Bank & Trust lifted its position in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 302 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Rogers Communications in the second quarter worth approximately $55,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Trading Up 0.6 %

Shares of RCI stock traded up $0.23 on Friday, hitting $35.74. 299,936 shares of the stock traded hands, compared to its average volume of 1,127,940. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. Rogers Communications Inc. has a twelve month low of $34.95 and a twelve month high of $48.19. The firm's 50-day moving average price is $37.52 and its two-hundred day moving average price is $38.42. The stock has a market capitalization of $19.10 billion, a PE ratio of 17.43, a PEG ratio of 1.10 and a beta of 0.69.

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 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 company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. Rogers Communications's quarterly revenue was up .7% compared to the same quarter last year. As a group, analysts anticipate that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $0.3611 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.04%. Rogers Communications's payout ratio is 72.20%.

Wall Street Analysts Forecast Growth

RCI has been the topic of a number of research reports. BMO Capital Markets raised their price objective on Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. TD Securities raised 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.