Gulf International Bank UK Ltd Purchases 322 Shares of Rogers Communications Inc. (NYSE:RCI)

Gulf International Bank UK Ltd lifted its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 13.4% during the 1st quarter, HoldingsChannel reports. The firm owned 2,720 shares of the Wireless communications provider’s stock after acquiring an additional 322 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Rogers Communications were worth $111,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of Rogers Communications by 22.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,544,016 shares of the Wireless communications provider’s stock worth $165,895,000 after purchasing an additional 660,486 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Rogers Communications during the fourth quarter worth approximately $228,000. FIL Ltd increased its stake in Rogers Communications by 13.7% during the fourth quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock worth $1,709,377,000 after acquiring an additional 4,405,888 shares during the last quarter. Barometer Capital Management Inc. bought a new stake in Rogers Communications during the fourth quarter worth approximately $1,092,000. Finally, Tabor Asset Management LP increased its stake in Rogers Communications by 44.9% during the fourth quarter. Tabor Asset Management LP now owns 89,477 shares of the Wireless communications provider’s stock worth $4,224,000 after acquiring an additional 27,733 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com cut Rogers Communications from a “hold” rating to a “sell” rating in a research note on Saturday, June 15th. Barclays reduced their price objective on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Rogers Communications Stock Down 0.2 %

Shares of NYSE:RCI opened at $37.69 on Monday. Rogers Communications Inc. has a 1 year low of $36.55 and a 1 year high of $48.19. The business has a 50 day simple moving average of $38.78 and a two-hundred day simple moving average of $42.66. The firm has a market capitalization of $19.98 billion, a PE ratio of 47.11, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. On average, equities analysts predict that Rogers Communications Inc. will post 3.66 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be given a dividend of $0.3658 per share. The ex-dividend date is Monday, June 10th. This represents a $1.46 annualized dividend and a dividend yield of 3.88%. Rogers Communications’s dividend payout ratio (DPR) is presently 181.25%.

About Rogers Communications

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.