Y Intercept Hong Kong Ltd Purchases Shares of 5,129 Rogers Communications Inc. (NYSE:RCI)

Y Intercept Hong Kong Ltd purchased a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,129 shares of the Wireless communications provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently made changes to their positions in the business. Cromwell Holdings LLC purchased a new position in Rogers Communications in the 3rd quarter worth $31,000. Ridgewood Investments LLC bought a new position in shares of Rogers Communications during the second quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rogers Communications by 110.1% in 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 during the period. Grove Bank & Trust lifted its stake in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Rogers Communications during the 2nd quarter valued at about $55,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Price Performance

RCI opened at $30.39 on Friday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The stock has a market capitalization of $16.24 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. The stock’s 50 day moving average price is $35.97 and its 200-day moving average price is $37.89. Rogers Communications Inc. has a 52-week low of $30.36 and a 52-week high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data 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. 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 the consensus estimate of $3.79 billion. During the same period in the previous year, the firm earned $0.95 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 71.71%.

Analysts Set New Price Targets

A number of brokerages have commented on RCI. BMO Capital Markets lifted their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. TD Securities upped their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday. They issued an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.75.

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.