Massachusetts Financial Services Co. MA Acquires 21,060 Shares of Rogers Communications Inc. (NYSE:RCI)

Massachusetts Financial Services Co. MA grew its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,521,446 shares of the Wireless communications provider’s stock after purchasing an additional 21,060 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.29% of Rogers Communications worth $56,071,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RCI. Dimensional Fund Advisors LP increased its stake in shares of Rogers Communications by 7.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 567,126 shares of the Wireless communications provider’s stock valued at $26,547,000 after purchasing an additional 37,026 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Rogers Communications by 17.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,962 shares of the Wireless communications provider’s stock valued at $326,000 after acquiring an additional 1,056 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Rogers Communications during the 4th quarter valued at $1,719,000. Clearbridge Investments LLC acquired a new stake in shares of Rogers Communications during the 4th quarter valued at $846,000. Finally, Assetmark Inc. boosted its holdings in shares of Rogers Communications by 1.8% during the 4th quarter. Assetmark Inc. now owns 18,891 shares of the Wireless communications provider’s stock valued at $884,000 after acquiring an additional 331 shares in the last quarter. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

RCI stock opened at $39.88 on Friday. The stock has a 50-day moving average price of $39.41 and a 200-day moving average price of $39.41. Rogers Communications Inc. has a 1-year low of $35.55 and a 1-year high of $48.19. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. The firm has a market cap of $21.14 billion, a PE ratio of 49.85, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.33. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company posted $0.76 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Rogers Communications Inc. will post 3.59 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 185.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on RCI. Canaccord Genuity Group reissued a “hold” rating and set a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. BMO Capital Markets lifted their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday. TD Securities lifted their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.75.

About Rogers Communications

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.