Creative Planning Buys 7,338 Shares of Rogers Communications Inc. (NYSE:RCI)

Creative Planning grew its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 50.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,796 shares of the Wireless communications provider’s stock after purchasing an additional 7,338 shares during the quarter. Creative Planning’s holdings in Rogers Communications were worth $806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCI. Gold Investment Management Ltd. increased its holdings in Rogers Communications by 1.3% during the first quarter. Gold Investment Management Ltd. now owns 21,085 shares of the Wireless communications provider’s stock worth $864,000 after buying an additional 270 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Rogers Communications by 13.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock valued at $111,000 after purchasing an additional 322 shares during the period. First Affirmative Financial Network lifted its stake in Rogers Communications by 11.2% in the 2nd quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider’s stock valued at $239,000 after purchasing an additional 649 shares during the last quarter. JTC Employer Solutions Trustee Ltd grew its holdings in Rogers Communications by 0.8% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 98,478 shares of the Wireless communications provider’s stock worth $4,065,000 after purchasing an additional 807 shares during the period. Finally, Tobam increased its position in Rogers Communications by 6.3% during the second quarter. Tobam now owns 14,995 shares of the Wireless communications provider’s stock worth $555,000 after buying an additional 891 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RCI shares. Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. TD Securities raised their target price 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. Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Finally, BMO Capital Markets raised their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.75.

Rogers Communications Trading Down 0.7 %

RCI stock opened at $38.11 on Friday. Rogers Communications Inc. has a 52 week low of $35.55 and a 52 week high of $48.19. The company has a market capitalization of $20.31 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. The company’s 50-day simple moving average is $39.93 and its 200 day simple moving average is $39.02. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rogers Communications Inc. will post 3.56 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 paid a dividend of $0.365 per share. The ex-dividend date was Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.83%. Rogers Communications’s dividend payout ratio (DPR) is presently 125.42%.

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.