Zurcher Kantonalbank Zurich Cantonalbank Has $6.48 Million Stock Position in Rogers Communications Inc. (NYSE:RCI)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 78.7% in the 4th quarter, HoldingsChannel reports. The fund owned 210,775 shares of the Wireless communications provider’s stock after selling 780,998 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rogers Communications were worth $6,476,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Entropy Technologies LP bought a new position in shares of Rogers Communications during the 3rd quarter worth approximately $314,000. CIBC Asset Management Inc lifted its position in shares of Rogers Communications by 10.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,673,110 shares of the Wireless communications provider’s stock worth $67,301,000 after buying an additional 159,295 shares during the period. Natixis Advisors LLC lifted its position in shares of Rogers Communications by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,948 shares of the Wireless communications provider’s stock worth $1,003,000 after buying an additional 3,547 shares during the period. Swiss National Bank lifted its position in shares of Rogers Communications by 0.8% during the 3rd quarter. Swiss National Bank now owns 1,080,000 shares of the Wireless communications provider’s stock worth $43,494,000 after buying an additional 8,400 shares during the period. Finally, PCJ Investment Counsel Ltd. lifted its position in shares of Rogers Communications by 2.9% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 247,530 shares of the Wireless communications provider’s stock worth $9,952,000 after buying an additional 7,050 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RCI has been the subject of several analyst reports. Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Rogers Communications has an average rating of “Hold” and an average price target of $61.75.

Rogers Communications Trading Down 0.4 %

RCI stock opened at $27.86 on Friday. The business has a fifty day moving average price of $28.36 and a 200 day moving average price of $33.92. Rogers Communications Inc. has a fifty-two week low of $26.57 and a fifty-two week high of $43.17. The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a $0.347 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.39 annualized dividend and a dividend yield of 4.98%. Rogers Communications’s dividend payout ratio (DPR) is currently 59.48%.

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.