Mn Services Vermogensbeheer B.V. lifted its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,894 shares of the Wireless communications provider’s stock after purchasing an additional 3,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Rogers Communications were worth $3,979,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Chicago Capital LLC bought a new position in shares of Rogers Communications in the 2nd quarter worth $239,000. Cozad Asset Management Inc. bought a new position in shares of Rogers Communications in the 2nd quarter worth $267,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Rogers Communications in the 2nd quarter worth $287,000. Schroder Investment Management Group bought a new position in shares of Rogers Communications in the 2nd quarter worth $337,000. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Rogers Communications in the 2nd quarter worth $403,000. Institutional investors and hedge funds own 46.12% of the company’s stock.
Several research analysts have recently issued reports on RCI shares. Barclays reduced their price target on Rogers Communications from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, July 20th. ValuEngine upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Zacks Investment Research raised Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Wednesday, September 19th. Finally, Desjardins downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Rogers Communications presently has a consensus rating of “Hold” and an average target price of $61.00.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Friday, October 19th. The Wireless communications provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.05. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.91 billion. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. On average, analysts expect that Rogers Communications Inc. will post 3.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Tuesday, December 11th will be paid a dividend of $0.3695 per share. This represents a $1.48 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Monday, December 10th. 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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