Rogers Communication, Inc. $RCI Stock: Letko Brosseau & Associates Inc. Boosts Position

Letko Brosseau & Associates Inc. grew its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,506,317 shares of the Wireless communications provider’s stock after purchasing an additional 86,610 shares during the period. Rogers Communication makes up about 2.6% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 12th biggest position. Letko Brosseau & Associates Inc. owned about 1.20% of Rogers Communication worth $200,815,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RCI. Bank of Nova Scotia boosted its holdings in Rogers Communication by 7.6% in the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock worth $241,467,000 after buying an additional 445,964 shares during the period. TD Waterhouse Canada Inc. raised its holdings in Rogers Communication by 7.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,037,804 shares of the Wireless communications provider’s stock valued at $155,491,000 after acquiring an additional 332,725 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 1,004,963 shares during the period. Gabelli Funds LLC raised its holdings in Rogers Communication by 10.5% during the 1st quarter. Gabelli Funds LLC now owns 1,495,950 shares of the Wireless communications provider’s stock valued at $57,519,000 after acquiring an additional 142,650 shares during the period. Finally, Swiss National Bank lifted its position in shares of Rogers Communication by 27.0% during the first quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock worth $47,146,000 after acquiring an additional 261,000 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Stock Down 0.6%

Shares of NYSE:RCI opened at $32.84 on Friday. The firm has a market capitalization of $17.74 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 3.79 and a beta of 0.66. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.64 and a current ratio of 0.67. Rogers Communication, Inc. has a 52-week low of $29.25 and a 52-week high of $41.14. The firm has a fifty day moving average of $33.01 and a 200 day moving average of $35.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Friday, October 23rd. The Wireless communications provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. Rogers Communication had a return on equity of 11.51% and a net margin of 4.11%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the business posted $1.37 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, research analysts anticipate that Rogers Communication, Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 8th will be given a C$0.50 dividend. The ex-dividend date is Tuesday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 6.1%. Rogers Communication’s payout ratio is presently 120.00%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RCI shares. TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Wall Street Zen raised shares of Rogers Communication from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Barclays cut their price target on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, October 13th. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, October 20th. Finally, Desjardins raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Monday, September 14th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rogers Communication currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Rogers Communication Company Profile

Rogers Communications Inc. is a Canadian communications and media company headquartered in Toronto. Founded by Ted Rogers in 1960, the company serves consumers and businesses across Canada. Its telecommunications operations provide wireless voice and data services, internet access, cable television and home phone services. Rogers offers wireless services through brands including Rogers, Fido and Chatr. The company also operates media businesses, including Sportsnet, Citytv, OMNI Television and radio stations.