DekaBank Deutsche Girozentrale Buys 2,797 Shares of Rogers Communications Inc. (NYSE:RCI)

DekaBank Deutsche Girozentrale increased its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 441,081 shares of the Wireless communications provider’s stock after purchasing an additional 2,797 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Rogers Communications were worth $17,719,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Toronto Dominion Bank grew its holdings 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 last quarter. Intech Investment Management LLC purchased a new position in shares of Rogers Communications in the first quarter valued at about $835,000. Russell Investments Group Ltd. raised its stake in shares of Rogers Communications by 8.6% during the first quarter. Russell Investments Group Ltd. now owns 195,754 shares of the Wireless communications provider’s stock valued at $8,040,000 after acquiring an additional 15,454 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Rogers Communications by 42.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 444,990 shares of the Wireless communications provider’s stock worth $18,262,000 after purchasing an additional 133,652 shares during the period. Finally, Quantbot Technologies LP grew its stake in shares of Rogers Communications by 580.9% in the first quarter. Quantbot Technologies LP now owns 52,780 shares of the Wireless communications provider’s stock worth $2,164,000 after purchasing an additional 45,028 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RCI shares. Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. TD Securities boosted their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets upped their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Finally, Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Trading Down 2.7 %

NYSE:RCI 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’s 50-day simple moving average is $39.61 and its 200 day simple moving average is $38.83. The firm has a market capitalization of $19.24 billion, a P/E ratio of 45.37, a PEG ratio of 1.06 and a beta of 0.67. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.79 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. As a group, analysts forecast that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

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

Rogers Communications 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.