Raymond James Financial Services Advisors Inc. Increases Holdings in Rogers Communications Inc. (NYSE:RCI)

Raymond James Financial Services Advisors Inc. raised its stake in Rogers Communications Inc. (NYSE:RCI – Get Rating) (TSE:RCI.B) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,112 shares of the Wireless communications provider’s stock after buying an additional 1,440 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Rogers Communications were worth $1,353,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Rogers Communications by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 11,396,833 shares of the Wireless communications provider’s stock valued at $646,770,000 after acquiring an additional 238,829 shares during the last quarter. FMR LLC raised its stake in Rogers Communications by 19.1% during the second quarter. FMR LLC now owns 7,914,046 shares of the Wireless communications provider’s stock worth $379,225,000 after purchasing an additional 1,271,206 shares during the period. Bank of Nova Scotia grew its stake in shares of Rogers Communications by 8.8% in the 2nd quarter. Bank of Nova Scotia now owns 7,046,637 shares of the Wireless communications provider’s stock valued at $337,807,000 after buying an additional 568,343 shares during the period. BlackRock Inc. grew its stake in shares of Rogers Communications by 16.1% in the 1st quarter. BlackRock Inc. now owns 3,281,771 shares of the Wireless communications provider’s stock valued at $186,241,000 after buying an additional 455,522 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Rogers Communications by 10.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,278,769 shares of the Wireless communications provider’s stock worth $157,060,000 after buying an additional 307,900 shares during the last quarter. 45.46% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Trading Down 0.1 %

NYSE RCI opened at $48.12 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 2.35 and a current ratio of 2.39. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.38 and a beta of 0.51. The firm has a 50 day simple moving average of $45.71 and a 200-day simple moving average of $43.87. Rogers Communications Inc. has a one year low of $36.23 and a one year high of $64.55.

Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, November 9th. The Wireless communications provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). Rogers Communications had a net margin of 10.41% and a return on equity of 17.52%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Equities research analysts anticipate that Rogers Communications Inc. will post 2.7 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th were issued a dividend of $0.367 per share. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $1.47 annualized dividend and a yield of 3.05%. Rogers Communications’s dividend payout ratio (DPR) is 62.61%.

Analysts Set New Price Targets

RCI has been the subject of several analyst reports. BMO Capital Markets lowered their price objective on Rogers Communications from C$72.00 to C$70.00 in a research report on Thursday, November 10th. TD Securities boosted their price objective on shares of Rogers Communications from C$75.00 to C$76.00 in a report on Wednesday, December 14th. Royal Bank of Canada increased their target price on shares of Rogers Communications from C$68.00 to C$69.00 in a research note on Thursday, November 10th. StockNews.com assumed coverage on shares of Rogers Communications in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Scotiabank upped their price objective on shares of Rogers Communications from C$71.00 to C$74.75 in a report on Tuesday, January 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rogers Communications has a consensus rating of “Moderate Buy” and an average target price of $74.08.

Rogers Communications Profile

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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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.