State Street Corp Has $5.55 Million Holdings in Rogers Communications Inc. (NYSE:RCI)

State Street Corp raised its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,766 shares of the Wireless communications provider’s stock after purchasing an additional 661 shares during the period. State Street Corp’s holdings in Rogers Communications were worth $5,550,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in Rogers Communications by 371.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after acquiring an additional 3,980,525 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after acquiring an additional 2,206,690 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Rogers Communications by 90.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after purchasing an additional 1,375,043 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Rogers Communications by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after purchasing an additional 1,211,482 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Rogers Communications by 10.2% in the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after purchasing an additional 974,937 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Price Performance

Rogers Communications stock opened at $30.36 on Friday. Rogers Communications Inc. has a 12 month low of $30.06 and a 12 month high of $48.19. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The business’s 50 day simple moving average is $35.03 and its 200 day simple moving average is $37.51. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. Sell-side analysts forecast that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors 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 dividend on an annualized basis and a yield of 4.76%. Rogers Communications’s dividend payout ratio (DPR) is 71.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RCI. Morgan Stanley started coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company. TD Securities upped 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. Finally, BMO Capital Markets upped their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Rogers Communications currently has a consensus rating of “Hold” and an average target price of $61.75.

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.