Public Employees Retirement System of Ohio Acquires New Position in Rogers Communications Inc. (NYSE:RCI)

Public Employees Retirement System of Ohio bought a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 63,585 shares of the Wireless communications provider’s stock, valued at approximately $2,559,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cromwell Holdings LLC acquired a new stake in shares of Rogers Communications in the 3rd quarter valued at approximately $31,000. Ridgewood Investments LLC acquired a new stake in Rogers Communications in the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 522 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after buying an additional 302 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Rogers Communications in the 2nd quarter valued at $55,000. 45.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley began coverage on Rogers Communications in a report on Monday. They issued an “underweight” rating for the company. 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 research note on Thursday, September 19th. Finally, TD Securities raised their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications has a consensus rating of “Hold” and an average price target of $61.75.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $31.69 on Wednesday. The company has a market capitalization of $16.93 billion, a PE ratio of 15.46, a P/E/G ratio of 1.06 and a beta of 0.67. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. Rogers Communications Inc. has a twelve month low of $31.40 and a twelve month high of $48.19. The firm has a fifty day simple moving average of $36.28 and a 200 day simple moving average of $37.99.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data 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. The firm had revenue of $5.13 billion during 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 business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. On average, sell-side analysts forecast 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 $0.3611 dividend. This represents a $1.44 annualized dividend and a yield of 4.56%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 71.71%.

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.