Raymond James Financial Services Advisors Inc. Increases Position in Rogers Communications Inc. (NYSE:RCI)

Raymond James Financial Services Advisors Inc. increased its stake in shares of Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,112 shares of the Wireless communications provider’s stock after buying an additional 1,440 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Rogers Communications were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Rogers Communications by 0.3% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 226,925 shares of the Wireless communications provider’s stock worth $8,731,000 after acquiring an additional 760 shares in the last quarter. VAUGHAN & Co SECURITIES INC. increased its stake in Rogers Communications by 6.6% in the 3rd quarter. VAUGHAN & Co SECURITIES INC. now owns 13,390 shares of the Wireless communications provider’s stock valued at $516,000 after purchasing an additional 831 shares in the last quarter. Value Partners Investments Inc. raised its holdings in Rogers Communications by 0.3% during the third quarter. Value Partners Investments Inc. now owns 1,237,580 shares of the Wireless communications provider’s stock worth $48,042,000 after purchasing an additional 3,843 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Rogers Communications by 1.8% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,096,395 shares of the Wireless communications provider’s stock worth $42,321,000 after purchasing an additional 19,064 shares in the last quarter. Finally, Everett Harris & Co. CA grew its holdings in Rogers Communications by 17.1% in the third quarter. Everett Harris & Co. CA now owns 80,555 shares of the Wireless communications provider’s stock valued at $3,105,000 after purchasing an additional 11,775 shares during the last quarter. 45.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RCI shares. CIBC boosted their price target on Rogers Communications from C$69.00 to C$72.00 in a report on Thursday, January 12th. TD Securities lifted their price target on shares of Rogers Communications from C$75.00 to C$76.00 in a report on Wednesday, December 14th. Scotiabank lifted their price objective on Rogers Communications from C$71.00 to C$74.75 in a research note on Tuesday, January 3rd. National Bank Financial increased their price target on Rogers Communications from C$75.00 to C$78.00 in a report on Thursday, January 12th. Finally, StockNews.com initiated coverage on shares of Rogers Communications in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and an average price target of $74.08.

Rogers Communications Stock Down 0.1 %

RCI stock opened at $48.12 on Friday. The company has a current ratio of 2.39, a quick ratio of 2.35 and a debt-to-equity ratio of 3.27. The firm has a 50 day simple moving average of $45.71 and a 200-day simple moving average of $43.87. The company has a market capitalization of $24.30 billion, a P/E ratio of 20.22, a PEG ratio of 2.38 and a beta of 0.51. Rogers Communications Inc. has a twelve month low of $36.23 and a twelve month high of $64.55.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, November 9th. The Wireless communications provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Rogers Communications had a return on equity of 17.52% and a net margin of 10.41%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.80 billion. On average, equities research analysts predict that Rogers Communications Inc. will post 2.7 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were given a $0.367 dividend. The ex-dividend date was Thursday, December 8th. This represents a $1.47 annualized dividend and a dividend yield of 3.05%. Rogers Communications’s payout ratio is 62.61%.

Rogers Communications Profile

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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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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