Janney Montgomery Scott LLC Makes New Investment in Rogers Communications Inc. (NYSE:RCI)

Janney Montgomery Scott LLC purchased a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 36,728 shares of the Wireless communications provider’s stock, valued at approximately $1,719,000.

Several other institutional investors have also recently made changes to their positions in RCI. EverSource Wealth Advisors LLC increased its position in shares of Rogers Communications by 62.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 270 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Rogers Communications by 120.1% during the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after acquiring an additional 359 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Rogers Communications by 120.8% during the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 499 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of Rogers Communications during the 4th quarter worth approximately $51,000. Finally, Tacita Capital Inc increased its holdings in shares of Rogers Communications by 35.6% during the 3rd quarter. Tacita Capital Inc now owns 2,935 shares of the Wireless communications provider’s stock worth $113,000 after acquiring an additional 770 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Shares of NYSE RCI opened at $39.28 on Monday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72. The stock’s fifty day moving average price is $39.49 and its two-hundred day moving average price is $43.24. Rogers Communications Inc. has a one year low of $36.55 and a one year high of $48.19. The firm has a market cap of $20.76 billion, a price-to-earnings ratio of 49.10, a P/E/G ratio of 1.04 and a beta of 0.63.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. On average, equities analysts forecast that Rogers Communications Inc. will post 3.64 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be issued a $0.3658 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s dividend payout ratio is 183.75%.

Analyst Ratings Changes

A number of research analysts recently weighed in on RCI shares. Barclays decreased their target price on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

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.