Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 259,230 Rogers Communications Inc. (NYSE:RCI)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 259,230 shares of the Wireless communications provider’s stock, valued at approximately $9,589,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brandes Investment Partners LP grew its position in shares of Rogers Communications by 45.1% during the 2nd quarter. Brandes Investment Partners LP now owns 37,273 shares of the Wireless communications provider’s stock valued at $1,378,000 after purchasing an additional 11,591 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 buying an additional 522 shares in the last quarter. Creative Planning grew its position in Rogers Communications by 50.8% during the second quarter. Creative Planning now owns 21,796 shares of the Wireless communications provider’s stock worth $806,000 after buying an additional 7,338 shares in the last quarter. Lighthouse Investment Partners LLC raised its holdings in shares of Rogers Communications by 226.9% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 15,970 shares of the Wireless communications provider’s stock valued at $590,000 after acquiring an additional 11,084 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Rogers Communications by 10.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after acquiring an additional 974,937 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $39.01 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58. The stock has a market cap of $20.68 billion, a PE ratio of 48.76, a PEG ratio of 1.06 and a beta of 0.67. The company’s fifty day moving average is $39.92 and its 200 day moving average is $39.12. Rogers Communications Inc. has a 52 week low of $35.55 and a 52 week high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $0.83 by $0.33. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.14 billion. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. Research analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th were given a $0.365 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $1.46 annualized dividend and a yield of 3.74%. Rogers Communications’s payout ratio is currently 185.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RCI shares. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets raised their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. TD Securities upped their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.