Raymond James & Associates Has $3.54 Million Holdings in Rogers Communications Inc. (NYSE:RCI)

Raymond James & Associates increased its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,672 shares of the Wireless communications provider’s stock after buying an additional 12,562 shares during the quarter. Raymond James & Associates’ holdings in Rogers Communications were worth $3,542,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. 1832 Asset Management L.P. boosted its holdings in shares of Rogers Communications by 3.5% in the 4th quarter. 1832 Asset Management L.P. now owns 11,736,531 shares of the Wireless communications provider’s stock valued at $549,739,000 after buying an additional 396,045 shares during the last quarter. Vanguard Group Inc. raised its stake in Rogers Communications by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 11,396,833 shares of the Wireless communications provider’s stock valued at $646,770,000 after acquiring an additional 238,829 shares during the period. Mackenzie Financial Corp raised its stake in Rogers Communications by 5.8% in the 3rd quarter. Mackenzie Financial Corp now owns 9,148,044 shares of the Wireless communications provider’s stock valued at $339,007,000 after acquiring an additional 505,427 shares during the period. Toronto Dominion Bank raised its stake in Rogers Communications by 0.9% in the 3rd quarter. Toronto Dominion Bank now owns 5,092,255 shares of the Wireless communications provider’s stock valued at $195,492,000 after acquiring an additional 46,553 shares during the period. Finally, Bank of Nova Scotia raised its stake in Rogers Communications by 0.8% in the 3rd quarter. Bank of Nova Scotia now owns 4,815,882 shares of the Wireless communications provider’s stock valued at $184,906,000 after acquiring an additional 37,451 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Down 2.8 %

RCI stock opened at $38.06 on Friday. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.89 and a quick ratio of 0.84. The stock has a market capitalization of $20.12 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 1.67 and a beta of 0.59. The business’s fifty day moving average price is $43.15 and its two-hundred day moving average price is $43.10. Rogers Communications Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $50.00.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%. On average, equities analysts anticipate that Rogers Communications Inc. will post 3.62 earnings per share for the current year.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Monday, March 11th were given a $0.3742 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.93%. This is a boost from Rogers Communications’s previous quarterly dividend of $0.36. Rogers Communications’s dividend payout ratio (DPR) is presently 122.50%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RCI. StockNews.com cut Rogers Communications from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Barclays dropped their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

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.