1,500 Shares in Rogers Communications Inc. (NYSE:RCI) Bought by Acadian Asset Management LLC

Acadian Asset Management LLC bought a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,500 shares of the Wireless communications provider’s stock, valued at approximately $55,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Gold Investment Management Ltd. increased its holdings in Rogers Communications by 1.3% during the first quarter. Gold Investment Management Ltd. now owns 21,085 shares of the Wireless communications provider’s stock worth $864,000 after buying an additional 270 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in Rogers Communications by 13.4% during the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock worth $111,000 after buying an additional 322 shares during the last quarter. Assetmark Inc. increased its holdings in Rogers Communications by 1.8% during the fourth quarter. Assetmark Inc. now owns 18,891 shares of the Wireless communications provider’s stock worth $884,000 after buying an additional 331 shares during the last quarter. First Affirmative Financial Network increased its holdings in Rogers Communications by 11.2% during the second quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider’s stock worth $239,000 after buying an additional 649 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Rogers Communications by 106.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock worth $68,000 after buying an additional 745 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Trading Up 1.3 %

Shares of Rogers Communications stock opened at $40.36 on Friday. The firm has a 50-day moving average of $39.47 and a 200-day moving average of $39.35. The stock has a market cap of $21.39 billion, a PE ratio of 50.45, a PEG ratio of 1.06 and a beta of 0.67. Rogers Communications Inc. has a 52-week low of $35.55 and a 52-week high of $48.19. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65.

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

Rogers Communications Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.62%. Rogers Communications’s payout ratio is presently 185.00%.

Wall Street Analysts Forecast Growth

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

Rogers Communications 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.