MQS Management LLC Invests $726,000 in Rogers Communications Inc. (NYSE:RCI)

MQS Management LLC acquired a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the third quarter, HoldingsChannel reports. The fund acquired 18,066 shares of the Wireless communications provider’s stock, valued at approximately $726,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cromwell Holdings LLC acquired a new stake in shares of Rogers Communications during the 3rd quarter worth $31,000. Northwestern Mutual Wealth Management Co. increased its position in Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 522 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Rogers Communications in the second quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new position in Rogers Communications during the first quarter valued at approximately $42,000. Finally, Grove Bank & Trust grew its stake in Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after buying an additional 302 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Trading Down 0.1 %

Rogers Communications stock opened at $35.79 on Wednesday. Rogers Communications Inc. has a 52-week low of $35.17 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 firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.11 and a beta of 0.69. The firm has a 50-day moving average price of $38.78 and a two-hundred day moving average price of $38.70.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. Sell-side analysts expect that Rogers Communications Inc. will post 3.55 earnings per share for the current year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, December 9th. Rogers Communications’s payout ratio is currently 72.20%.

Analyst Ratings Changes

Several equities analysts recently weighed in on RCI shares. BMO Capital Markets lifted their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 target price (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Finally, TD Securities boosted their price target on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

Rogers Communications Company 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.