Massachusetts Financial Services Co. MA Has $318,000 Holdings in Rogers Communications Inc. (RCI)

Massachusetts Financial Services Co. MA lowered its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 96.8% in the third quarter, HoldingsChannel.com reports. The fund owned 6,178 shares of the Wireless communications provider’s stock after selling 187,932 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Rogers Communications were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of RCI. Beutel Goodman & Co Ltd. increased its stake in shares of Rogers Communications by 9.7% during the second quarter. Beutel Goodman & Co Ltd. now owns 21,014,591 shares of the Wireless communications provider’s stock worth $998,281,000 after purchasing an additional 1,854,605 shares in the last quarter. Millennium Management LLC increased its stake in shares of Rogers Communications by 13.0% during the second quarter. Millennium Management LLC now owns 236,188 shares of the Wireless communications provider’s stock worth $11,209,000 after purchasing an additional 27,200 shares in the last quarter. Cozad Asset Management Inc. purchased a new stake in shares of Rogers Communications during the second quarter worth about $267,000. Baskin Financial Services Inc. increased its stake in shares of Rogers Communications by 2.5% during the third quarter. Baskin Financial Services Inc. now owns 322,887 shares of the Wireless communications provider’s stock worth $16,593,000 after purchasing an additional 7,924 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Rogers Communications by 2.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,308,245 shares of the Wireless communications provider’s stock worth $62,143,000 after purchasing an additional 31,421 shares in the last quarter. Institutional investors and hedge funds own 46.12% of the company’s stock.

Rogers Communications stock opened at $51.13 on Friday. Rogers Communications Inc. has a 1-year low of $43.11 and a 1-year high of $54.95. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.72 and a quick ratio of 0.65. The company has a market capitalization of $26.30 billion, a PE ratio of 16.17, a PEG ratio of 3.15 and a beta of 0.72.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.05. Rogers Communications had a net margin of 13.34% and a return on equity of 29.37%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.91 billion. As a group, equities analysts forecast that Rogers Communications Inc. will post 3.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 11th will be paid a $0.3695 dividend. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 10th. This represents a $1.48 annualized dividend and a dividend yield of 2.89%. Rogers Communications’s dividend payout ratio is 54.24%.

A number of analysts have recently commented on RCI shares. Zacks Investment Research raised shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Wednesday, September 19th. Desjardins cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Barclays dropped their price objective on shares of Rogers Communications from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, July 20th. Finally, ValuEngine raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Rogers Communications presently has an average rating of “Hold” and an average target price of $61.00.

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Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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