Northwest & Ethical Investments L.P. Sells 11,425 Shares of Rogers Communications Inc. (NYSE:RCI)

Northwest & Ethical Investments L.P. reduced its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 8.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,503 shares of the Wireless communications provider’s stock after selling 11,425 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Rogers Communications were worth $4,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cromwell Holdings LLC purchased a new position in Rogers Communications in the third quarter worth about $31,000. Ridgewood Investments LLC bought a new stake in shares of Rogers Communications in the 2nd quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of Rogers Communications by 41.0% in the 3rd 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. Finally, Acadian Asset Management LLC bought a new position in shares of Rogers Communications during the 2nd quarter valued at approximately $55,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Trading Up 0.3 %

Shares of NYSE RCI opened at $35.51 on Friday. The business’s 50 day moving average price is $37.61 and its 200-day moving average price is $38.46. Rogers Communications Inc. has a fifty-two week low of $34.95 and a fifty-two week high of $48.19. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The company has a market cap of $18.92 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.11 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. On average, sell-side analysts expect that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.07%. Rogers Communications’s dividend payout ratio (DPR) is 72.20%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets raised their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. TD Securities increased their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” 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.