Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 78.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,775 shares of the Wireless communications provider's stock after selling 780,998 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Rogers Communications were worth $6,476,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi grew its stake in Rogers Communications by 27.4% in the fourth quarter. Amundi now owns 582,791 shares of the Wireless communications provider's stock valued at $17,793,000 after purchasing an additional 125,183 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Rogers Communications by 4.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider's stock valued at $436,000 after purchasing an additional 571 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its stake in Rogers Communications by 24.1% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,443,877 shares of the Wireless communications provider's stock valued at $44,330,000 after purchasing an additional 280,779 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock worth $47,000 after acquiring an additional 744 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Rogers Communications during the 4th quarter worth about $608,000. Hedge funds and other institutional investors own 45.49% of the company's stock.
Rogers Communications Price Performance
NYSE RCI opened at $27.86 on Friday. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $43.17. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a market capitalization of $14.89 billion, a PE ratio of 12.01, a P/E/G ratio of 1.43 and a beta of 0.67. The stock has a 50-day simple moving average of $28.36 and a 200 day simple moving average of $33.92.
Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Research analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.
Rogers Communications Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be issued a $0.347 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 4.98%. Rogers Communications's dividend payout ratio (DPR) is 59.48%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Barclays reiterated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Morgan Stanley assumed coverage on Rogers Communications in a research note on Monday, December 16th. They set an "underweight" rating for the company. Finally, Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Rogers Communications currently has a consensus rating of "Hold" and a consensus price target of $61.75.
Check Out Our Latest Analysis on RCI
Rogers Communications Profile
(
Free Report)
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.
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