Crossmark Global Holdings Inc. Sells 12,070 Shares of Rogers Communications Inc. (NYSE:RCI)

Crossmark Global Holdings Inc. lessened its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 34.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,184 shares of the Wireless communications provider’s stock after selling 12,070 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Rogers Communications were worth $933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank increased its stake 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 worth $233,099,000 after purchasing an additional 2,206,690 shares during the period. National Bank of Canada FI grew its holdings in Rogers Communications by 37.5% in the 1st quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock valued at $220,193,000 after buying an additional 1,519,894 shares during the last quarter. Mackenzie Financial Corp increased its position in Rogers Communications by 10.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after buying an additional 974,937 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in shares of Rogers Communications by 31.2% during the second quarter. Burgundy Asset Management Ltd. now owns 2,536,482 shares of the Wireless communications provider’s stock worth $93,772,000 after buying an additional 603,876 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its position in shares of Rogers Communications by 33.8% in the second quarter. Intact Investment Management Inc. now owns 1,994,221 shares of the Wireless communications provider’s stock valued at $73,752,000 after acquiring an additional 503,550 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Ratings Changes

RCI has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. TD Securities increased their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Canaccord Genuity Group restated a “hold” rating and set a $57.00 price target (down from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

Rogers Communications Stock Performance

NYSE RCI opened at $36.14 on Friday. Rogers Communications Inc. has a twelve month low of $35.17 and a twelve month high of $48.19. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The stock has a market cap of $19.26 billion, a P/E ratio of 17.63, a PEG ratio of 1.11 and a beta of 0.69. The company’s 50-day simple moving average is $38.69 and its 200 day simple moving average is $38.68.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.35. The company 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. As a group, research analysts forecast that Rogers Communications Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 4.00%. Rogers Communications’s dividend payout ratio is presently 72.20%.

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.