DekaBank Deutsche Girozentrale Raises Position in Rogers Communications Inc. (NYSE:RCI)

DekaBank Deutsche Girozentrale boosted its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 441,081 shares of the Wireless communications provider’s stock after purchasing an additional 2,797 shares during the period. DekaBank Deutsche Girozentrale owned about 0.08% of Rogers Communications worth $17,719,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. TD Asset Management Inc boosted its position in Rogers Communications by 4.2% during the first quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider’s stock worth $473,204,000 after purchasing an additional 463,368 shares during the period. 1832 Asset Management L.P. boosted its holdings in Rogers Communications by 2.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock worth $425,341,000 after buying an additional 288,614 shares during the period. Mackenzie Financial Corp grew its stake in Rogers Communications by 10.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after buying an additional 974,937 shares in the last quarter. Toronto Dominion Bank raised its holdings in Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after acquiring an additional 2,206,690 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Rogers Communications by 37.5% during the first quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock worth $220,193,000 after acquiring an additional 1,519,894 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RCI. Canaccord Genuity Group reiterated a “hold” rating and set a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. BMO Capital Markets raised their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. 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 report on Thursday, September 19th. Finally, Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Stock Down 2.7 %

RCI opened at $36.30 on Wednesday. The business’s fifty day simple moving average is $39.61 and its 200 day simple moving average is $38.83. Rogers Communications Inc. has a 52 week low of $35.55 and a 52 week high of $48.19. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58. The stock has a market cap of $19.24 billion, a PE ratio of 45.37, a P/E/G ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. As a group, research analysts expect that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.98%. Rogers Communications’s payout ratio is 183.75%.

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.