Zurcher Kantonalbank Zurich Cantonalbank Sells 40,058 Shares of Rogers Communications Inc. (NYSE:RCI)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 991,773 shares of the Wireless communications provider's stock after selling 40,058 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.19% of Rogers Communications worth $39,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cromwell Holdings LLC bought a new stake in shares of Rogers Communications during the 3rd quarter worth $31,000. Ridgewood Investments LLC bought a new stake in Rogers Communications during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. lifted its stake in 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 worth $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock worth $42,000 after purchasing an additional 302 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Rogers Communications during the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Trading Up 0.7 %

RCI traded up $0.23 on Friday, hitting $35.75. 299,936 shares of the company were exchanged, compared to its average volume of 764,833. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The firm has a fifty day simple moving average of $37.52 and a two-hundred day simple moving average of $38.44. The stock has a market capitalization of $19.10 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. 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 issued its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $3.79 billion. During the same quarter last year, the business earned $0.95 earnings per share. The business's revenue was up .7% on a year-over-year basis. Sell-side analysts expect that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on RCI. BMO Capital Markets boosted their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. TD Securities boosted their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.75.

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.