JTC Employer Solutions Trustee Ltd Buys 807 Shares of Rogers Communications Inc. (NYSE:RCI)

JTC Employer Solutions Trustee Ltd increased its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,478 shares of the Wireless communications provider’s stock after buying an additional 807 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Rogers Communications were worth $4,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RCI. Fifth Third Bancorp lifted its position in shares of Rogers Communications by 120.1% during the fourth quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 359 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Rogers Communications by 120.8% during the fourth quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 499 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Rogers Communications during the fourth quarter worth $51,000. EverSource Wealth Advisors LLC increased its stake in shares of Rogers Communications by 106.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock valued at $68,000 after buying an additional 745 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of Rogers Communications by 13.4% during the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock valued at $111,000 after buying an additional 322 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Up 1.7 %

RCI traded up $0.61 on Wednesday, hitting $36.81. The company had a trading volume of 348,859 shares, compared to its average volume of 713,288. The stock has a fifty day moving average price of $38.58 and a 200-day moving average price of $42.24. Rogers Communications Inc. has a 12-month low of $35.55 and a 12-month high of $48.19. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.72 and a current ratio of 0.77. The stock has a market capitalization of $19.51 billion, a price-to-earnings ratio of 45.70, a P/E/G ratio of 0.98 and a beta of 0.68.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Analysts predict that Rogers Communications Inc. will post 3.66 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be paid a $0.3658 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.46 annualized dividend and a yield of 3.98%. Rogers Communications’s dividend payout ratio (DPR) is presently 181.25%.

Analyst Ratings Changes

Several equities analysts have recently commented on RCI shares. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a research note on Saturday, June 15th. Barclays cut their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

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.