Rogers Communications Inc. (NYSE:RCI) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 2.6% in the second quarter, Holdings Channel reports. The firm owned 11,501,927 shares of the Wireless communications provider’s stock after purchasing an additional 288,614 shares during the period. 1832 Asset Management L.P.’s holdings in Rogers Communications were worth $425,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. FIL Ltd raised its position in Rogers Communications by 13.7% during the 4th quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock worth $1,709,377,000 after buying an additional 4,405,888 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Rogers Communications by 4.2% during the 1st quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider’s stock valued at $473,204,000 after purchasing an additional 463,368 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Rogers Communications by 37.5% during the 1st quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock valued at $220,193,000 after purchasing an additional 1,519,894 shares in the last quarter. Letko Brosseau & Associates Inc. increased its holdings in shares of Rogers Communications by 1.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 4,004,074 shares of the Wireless communications provider’s stock valued at $148,066,000 after purchasing an additional 57,245 shares in the last quarter. Finally, AGF Management Ltd. increased its holdings in shares of Rogers Communications by 5.6% during the 2nd quarter. AGF Management Ltd. now owns 3,651,100 shares of the Wireless communications provider’s stock valued at $135,018,000 after purchasing an additional 194,581 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $40.36 on Friday. The firm has a market cap of $21.39 billion, a PE ratio of 50.45, a PEG ratio of 1.06 and a beta of 0.67. The firm has a fifty day moving average of $39.47 and a 200 day moving average of $39.35. 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 Inc. has a one year low of $35.55 and a one year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released 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 business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts predict that Rogers Communications Inc. will post 3.59 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is 185.00%.

Analysts Set New Price Targets

RCI has been the subject of several recent research reports. Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 target price (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. BMO Capital Markets lifted their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday. TD Securities lifted their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.