Public Employees Retirement System of Ohio Sells 17,542 Shares of Rogers Communication, Inc. $RCI

Public Employees Retirement System of Ohio lowered its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 7.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 230,052 shares of the Wireless communications provider’s stock after selling 17,542 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Rogers Communication were worth $8,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fiera Capital Corp grew its holdings in shares of Rogers Communication by 8,881.3% during the fourth quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after buying an additional 7,116,744 shares during the last quarter. Morgan Stanley raised its holdings in shares of Rogers Communication by 138.0% in the 4th quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock worth $191,681,000 after acquiring an additional 2,945,885 shares during the last quarter. Bank of America Corp DE lifted its position in Rogers Communication by 67.8% in the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after acquiring an additional 1,966,476 shares in the last quarter. Caisse de depot et placement du Quebec bought a new position in Rogers Communication in the 3rd quarter valued at about $47,082,000. Finally, Dimensional Fund Advisors LP boosted its stake in Rogers Communication by 98.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock valued at $77,871,000 after purchasing an additional 1,004,963 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RCI. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Thursday. Weiss Ratings downgraded Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Raymond James Financial started coverage on Rogers Communication in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, Barclays dropped their price objective on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rogers Communication currently has a consensus rating of “Hold” and an average price target of $36.00.

Rogers Communication Trading Up 0.3%

NYSE:RCI opened at $32.81 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $17.73 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 4.08 and a beta of 0.64. The firm’s 50 day moving average is $35.54 and its 200 day moving average is $36.53. Rogers Communication, Inc. has a 12 month low of $31.38 and a 12 month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. Rogers Communication’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts expect that Rogers Communication, Inc. will post 3.27 earnings per share for the current year.

Rogers Communication Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 6.1%. Rogers Communication’s dividend payout ratio is presently 17.51%.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.