JPMorgan Chase & Co. Boosts Holdings in Rogers Communications Inc. (NYSE:RCI)

JPMorgan Chase & Co. increased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,728,836 shares of the Wireless communications provider’s stock after acquiring an additional 15,609 shares during the quarter. JPMorgan Chase & Co.’s holdings in Rogers Communications were worth $69,516,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RCI. Cromwell Holdings LLC bought a new stake in shares of Rogers Communications during the 3rd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rogers Communications by 110.1% in the 2nd 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 last quarter. Grove Bank & Trust raised its position in shares of Rogers Communications by 41.0% during the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after buying an additional 302 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Rogers Communications in the second quarter worth $55,000. Finally, Nexus Investment Management ULC purchased a new stake in Rogers Communications during the third quarter valued at about $203,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Rogers Communications stock opened at $30.84 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The firm has a market cap of $16.48 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.06 and a beta of 0.69. Rogers Communications Inc. has a 1-year low of $29.91 and a 1-year high of $48.19. The firm has a 50-day moving average of $34.36 and a 200-day moving average of $37.30.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (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 analysts’ expectations of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. Sell-side analysts expect 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 was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 71.71%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. BMO Capital Markets boosted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, TD Securities lifted their price objective on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications currently has a consensus rating of “Hold” and an average price target 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.