Public Employees Retirement System of Ohio Makes New $2.56 Million Investment in Rogers Communications Inc. (NYSE:RCI)

Public Employees Retirement System of Ohio acquired a new stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 63,585 shares of the Wireless communications provider’s stock, valued at approximately $2,559,000.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in Rogers Communications by 371.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after purchasing an additional 3,980,525 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Rogers Communications by 53.9% in the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after purchasing an additional 2,206,690 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Rogers Communications by 90.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after buying an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Rogers Communications by 86.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after buying an additional 1,211,482 shares during the period. Finally, National Bank of Canada FI grew its stake in Rogers Communications by 18.6% in the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after buying an additional 977,924 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Securities raised their price objective 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. Morgan Stanley assumed coverage on Rogers Communications in a report on Monday. They set an “underweight” rating for the company. Finally, BMO Capital Markets upped their price objective on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Down 0.6 %

Shares of RCI opened at $31.69 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $16.93 billion, a PE ratio of 15.46, a P/E/G ratio of 1.06 and a beta of 0.67. The firm’s 50 day moving average is $36.28 and its 200-day moving average is $37.99. Rogers Communications Inc. has a 12 month low of $31.40 and a 12 month high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. The firm 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 revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. Equities research analysts forecast that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.56%. Rogers Communications’s dividend payout ratio is 71.71%.

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.