Signaturefd LLC Boosts Holdings in Rogers Communications Inc. (NYSE:RCI)

Signaturefd LLC lifted its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 11.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,627 shares of the Wireless communications provider’s stock after purchasing an additional 664 shares during the quarter. Signaturefd LLC’s holdings in Rogers Communications were worth $266,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RCI. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Rogers Communications by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 785,748 shares of the Wireless communications provider’s stock worth $32,215,000 after purchasing an additional 4,745 shares during the period. JTC Employer Solutions Trustee Ltd grew its holdings in shares of Rogers Communications by 0.8% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 98,478 shares of the Wireless communications provider’s stock worth $4,065,000 after purchasing an additional 807 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Rogers Communications by 104.6% during the 1st quarter. BNP Paribas Financial Markets now owns 47,540 shares of the Wireless communications provider’s stock worth $1,949,000 after purchasing an additional 24,309 shares during the period. Capstone Investment Advisors LLC purchased a new stake in shares of Rogers Communications during the 1st quarter worth about $493,000. Finally, FORA Capital LLC purchased a new stake in shares of Rogers Communications during the 1st quarter worth about $483,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD Securities boosted their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group reissued a “hold” rating and set a $57.00 price target (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Canaccord Genuity Group lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets boosted 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and an average target price of $61.75.

Rogers Communications Stock Performance

Shares of RCI opened at $37.14 on Friday. The business’s 50 day moving average is $39.73 and its two-hundred day moving average is $38.87. Rogers Communications Inc. has a 52-week low of $35.55 and a 52-week high of $48.19. The firm has a market cap of $19.68 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.06 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.33. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the company posted $0.76 EPS. Rogers Communications’s quarterly revenue was up .9% on a year-over-year basis. Analysts forecast that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Monday, December 9th. Rogers Communications’s payout ratio is 185.00%.

About Rogers Communications

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.