Charles Schwab Investment Management Inc. Raises Position in Rogers Communications Inc. (NYSE:RCI)

Charles Schwab Investment Management Inc. grew its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 106.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 133,760 shares of the Wireless communications provider’s stock after purchasing an additional 68,971 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Rogers Communications were worth $5,383,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cromwell Holdings LLC bought a new stake in Rogers Communications during the third quarter valued at approximately $31,000. Ridgewood Investments LLC bought a new stake in Rogers Communications during the second quarter valued at approximately $37,000. 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 valued at $37,000 after buying an additional 522 shares during the period. Grove Bank & Trust grew its position in Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after buying an additional 302 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Rogers Communications during the second quarter valued at approximately $55,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RCI shares. 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. BMO Capital Markets upped their target price 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Trading Down 1.4 %

NYSE RCI opened at $33.71 on Friday. The company’s 50-day moving average price is $36.76 and its 200-day moving average price is $38.19. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The stock has a market cap of $18.01 billion, a PE ratio of 16.68, a PEG ratio of 1.09 and a beta of 0.67. Rogers Communications Inc. has a 12 month low of $33.51 and a 12 month high of $48.19.

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

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is 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.