JTC Employer Solutions Trustee Ltd Raises Holdings in Rogers Communications Inc. (NYSE:RCI)

JTC Employer Solutions Trustee Ltd grew its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,365 shares of the Wireless communications provider’s stock after buying an additional 956 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Rogers Communications were worth $3,090,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after acquiring an additional 3,980,525 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rogers Communications by 106.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock worth $5,383,000 after acquiring an additional 68,971 shares in the last quarter. MQS Management LLC bought a new position in shares of Rogers Communications in the 3rd quarter worth $726,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Rogers Communications by 1,046.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock worth $24,101,000 after acquiring an additional 547,201 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Rogers Communications by 53.9% in the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after acquiring an additional 2,206,690 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

Shares of RCI traded up $0.38 during mid-day trading on Monday, reaching $29.38. The company had a trading volume of 260,290 shares, compared to its average volume of 897,243. Rogers Communications Inc. has a 52-week low of $28.89 and a 52-week high of $48.19. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $15.70 billion, a P/E ratio of 14.33, a PEG ratio of 1.06 and a beta of 0.69. The stock has a 50 day moving average of $33.62 and a two-hundred day moving average of $36.99.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. Rogers Communications’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. On average, analysts expect that Rogers Communications Inc. will post 3.56 earnings per share 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 issued a $0.3611 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 4.92%. Rogers Communications’s dividend payout ratio is presently 68.78%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. TD Securities upped their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, BMO Capital Markets upped their target price on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.75.

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.