Rogers Communications Inc. (NYSE:RCI) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden raised its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 45.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,800 shares of the Wireless communications provider’s stock after acquiring an additional 25,700 shares during the period. Forsta AP Fonden’s holdings in Rogers Communications were worth $3,293,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cromwell Holdings LLC acquired a new stake in shares of Rogers Communications in the third quarter valued at approximately $31,000. Ridgewood Investments LLC purchased a new stake in Rogers Communications in the 2nd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 522 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Rogers Communications during the 1st quarter worth $42,000. Finally, Grove Bank & Trust raised 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 acquiring an additional 302 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

Shares of RCI stock opened at $36.30 on Wednesday. Rogers Communications Inc. has a one year low of $35.55 and a one year high of $48.19. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65. The firm’s 50 day moving average price is $39.61 and its 200-day moving average price is $38.83. The firm has a market cap of $19.24 billion, a P/E ratio of 45.37, a P/E/G ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results 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. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 3.98%. Rogers Communications’s dividend payout ratio (DPR) is presently 183.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RCI shares. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. 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. Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Finally, TD Securities lifted their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.75.

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.