Rogers Communications Inc. (NYSE:RCI) Stock Holdings Increased by Brandes Investment Partners LP

Brandes Investment Partners LP boosted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 45.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,273 shares of the Wireless communications provider’s stock after purchasing an additional 11,591 shares during the period. Brandes Investment Partners LP’s holdings in Rogers Communications were worth $1,378,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RCI. Ridgewood Investments LLC purchased a new position in shares of Rogers Communications during the 2nd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. boosted 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 purchasing an additional 522 shares during the last quarter. Headlands Technologies LLC purchased a new position in Rogers Communications in the first quarter valued at about $42,000. Acadian Asset Management LLC acquired a new position in Rogers Communications in the 2nd quarter worth about $55,000. Finally, CWM LLC raised its stake in shares of Rogers Communications by 342.3% during the 2nd quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock worth $67,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Trading Down 0.1 %

Rogers Communications stock opened at $40.21 on Tuesday. Rogers Communications Inc. has a 52 week low of $35.55 and a 52 week high of $48.19. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65. The firm has a market capitalization of $21.31 billion, a PE ratio of 50.26, a PEG ratio of 1.06 and a beta of 0.67. The business’s 50-day simple moving average is $39.78 and its 200-day simple moving average is $39.17.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.14 billion. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. Equities research analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 185.00%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Canaccord Genuity Group restated a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. TD Securities upped their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, BMO Capital Markets raised their target price on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.