Creative Planning Buys 486 Shares of Rogers Communications Inc. (NYSE:RCI)

Creative Planning boosted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,282 shares of the Wireless communications provider’s stock after buying an additional 486 shares during the quarter. Creative Planning’s holdings in Rogers Communications were worth $896,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RCI. Grove Bank & Trust boosted its position in 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 purchasing an additional 302 shares during the period. First Affirmative Financial Network boosted its position in Rogers Communications by 17.6% during the third quarter. First Affirmative Financial Network now owns 7,584 shares of the Wireless communications provider’s stock worth $305,000 after purchasing an additional 1,134 shares during the period. Tobam boosted its position in Rogers Communications by 14.7% during the third quarter. Tobam now owns 17,192 shares of the Wireless communications provider’s stock worth $691,000 after purchasing an additional 2,197 shares during the period. Value Partners Investments Inc. boosted its position in Rogers Communications by 1.4% during the third quarter. Value Partners Investments Inc. now owns 1,722,621 shares of the Wireless communications provider’s stock worth $69,267,000 after purchasing an additional 23,080 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Rogers Communications in the third quarter worth about $323,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Trading Down 0.7 %

Shares of RCI opened at $36.08 on Friday. The company has a market capitalization of $19.22 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.14 and a beta of 0.67. Rogers Communications Inc. has a 1-year low of $35.55 and a 1-year high of $48.19. The firm’s 50 day simple moving average is $39.37 and its 200 day simple moving average is $38.79. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business’s revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Sell-side analysts forecast that Rogers Communications Inc. will post 3.55 earnings per share for the current fiscal 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 dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 72.20%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. TD Securities increased their price target on shares of 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 reaffirmed a “hold” rating and issued a $57.00 target price (down from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. BMO Capital Markets raised their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.