PDT Partners LLC Buys 12,758 Shares of Rogers Communications Inc. (NYSE:RCI)

PDT Partners LLC lifted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,490 shares of the Wireless communications provider’s stock after acquiring an additional 12,758 shares during the quarter. PDT Partners LLC’s holdings in Rogers Communications were worth $3,880,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RCI. Cromwell Holdings LLC acquired a new stake in Rogers Communications in the 3rd quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 522 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Rogers Communications in the second quarter worth $37,000. Grove Bank & Trust boosted its holdings in shares of Rogers Communications by 41.0% during the 3rd 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. Finally, Acadian Asset Management LLC bought a new stake in shares of Rogers Communications during the 2nd quarter worth $55,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on RCI shares. TD Securities boosted their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets boosted their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Price Performance

NYSE:RCI opened at $35.75 on Friday. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. Rogers Communications Inc. has a one year low of $34.95 and a one year high of $48.19. The company has a fifty day moving average price of $37.52 and a 200 day moving average price of $38.44. The stock has a market cap of $19.05 billion, a P/E ratio of 17.44, a PEG ratio of 1.10 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue was up .7% compared to the same quarter last year. Analysts anticipate that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.04%. Rogers Communications’s dividend payout ratio is currently 71.71%.

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.