Renaissance Technologies LLC raised its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 8.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,589,200 shares of the Wireless communications provider’s stock after buying an additional 203,400 shares during the period. Renaissance Technologies LLC owned 0.50% of Rogers Communications worth $133,111,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of RCI. William Blair Investment Management LLC acquired a new stake in Rogers Communications in the third quarter valued at approximately $229,495,000. Toronto Dominion Bank boosted its position in Rogers Communications by 22.5% in the third quarter. Toronto Dominion Bank now owns 4,291,153 shares of the Wireless communications provider’s stock valued at $221,016,000 after buying an additional 787,068 shares in the last quarter. Marshall Wace LLP acquired a new stake in Rogers Communications in the second quarter valued at approximately $35,059,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Rogers Communications by 26.3% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,312,555 shares of the Wireless communications provider’s stock valued at $144,396,000 after buying an additional 482,000 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Rogers Communications by 7.5% in the third quarter. Great West Life Assurance Co. Can now owns 5,995,893 shares of the Wireless communications provider’s stock valued at $308,564,000 after buying an additional 417,187 shares in the last quarter. Hedge funds and other institutional investors own 44.80% of the company’s stock.
RCI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Friday, November 30th. Edward Jones lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and set a $52.67 target price on the stock. in a research report on Thursday, November 29th. Finally, Desjardins lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Rogers Communications presently has a consensus rating of “Hold” and an average price target of $54.89.
RCI stock opened at $53.53 on Friday. The firm has a market cap of $27.60 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 3.32 and a beta of 0.74. Rogers Communications Inc. has a 52-week low of $43.11 and a 52-week high of $54.83. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 1.73.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.05. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.91 billion. Rogers Communications had a net margin of 13.34% and a return on equity of 29.37%. On average, research analysts predict that Rogers Communications Inc. will post 3.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 11th will be paid a dividend of $0.3695 per share. The ex-dividend date of this dividend is Monday, December 10th. This represents a $1.48 annualized dividend and a dividend yield of 2.76%. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s dividend payout ratio (DPR) is presently 54.24%.
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About Rogers Communications
Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.
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