Fmr LLC Grows Holdings in Rogers Communications Inc. (NYSE:RCI)

Fmr LLC grew its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 2.8% during the third quarter, HoldingsChannel.com reports. The fund owned 2,496,298 shares of the Wireless communications provider’s stock after buying an additional 68,759 shares during the quarter. Fmr LLC’s holdings in Rogers Communications were worth $100,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Cromwell Holdings LLC bought a new stake in shares of Rogers Communications in the third quarter worth about $31,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 valued at $37,000 after purchasing an additional 522 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Rogers Communications during the 2nd quarter valued at about $37,000. Grove Bank & Trust lifted its stake in shares of Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after buying an additional 302 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Rogers Communications in the 2nd quarter worth approximately $55,000. Institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target 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 target 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Stock Up 0.5 %

Shares of NYSE RCI opened at $36.03 on Thursday. The firm’s 50-day moving average is $37.25 and its two-hundred day moving average is $38.34. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. The company has a market capitalization of $19.26 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.11 and a beta of 0.67. Rogers Communications Inc. has a 12-month low of $34.95 and a 12-month high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. Equities analysts anticipate that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 71.71%.

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.