Rogers Communications Inc. (NYSE:RCI) Shares Purchased by Creative Planning

Creative Planning raised its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 50.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,796 shares of the Wireless communications provider’s stock after purchasing an additional 7,338 shares during the quarter. Creative Planning’s holdings in Rogers Communications were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RCI. TD Asset Management Inc boosted its stake in Rogers Communications by 4.2% during the first quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider’s stock valued at $473,204,000 after buying an additional 463,368 shares in the last quarter. 1832 Asset Management L.P. raised its position in Rogers Communications by 2.6% during the second quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock valued at $425,341,000 after acquiring an additional 288,614 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of 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 worth $390,738,000 after buying an additional 974,937 shares during the last quarter. Toronto Dominion Bank boosted its position in 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 worth $233,099,000 after purchasing an additional 2,206,690 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Rogers Communications by 37.5% during the first quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock valued at $220,193,000 after acquiring an additional 1,519,894 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

RCI stock opened at $38.11 on Friday. The business’s 50-day moving average price is $39.93 and its two-hundred day moving average price is $39.02. 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 $20.31 billion, a PE ratio of 32.30, a P/E/G ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. As a group, research analysts forecast that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 9th were given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is currently 125.42%.

Analyst Upgrades and Downgrades

RCI has been the topic of several research reports. Canaccord Genuity Group restated 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. TD Securities boosted their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets boosted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average price target 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.