Signition LP Takes Position in Rogers Communications Inc. (NYSE:RCI)

Signition LP bought a new stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,700 shares of the Wireless communications provider’s stock, valued at approximately $521,000. Rogers Communications makes up about 2.1% of Signition LP’s holdings, making the stock its 10th largest position.

Several other large investors have also made changes to their positions in RCI. Beutel Goodman & Co Ltd. lifted its position in shares of Rogers Communications by 99.8% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 40,532,676 shares of the Wireless communications provider’s stock valued at $2,174,759,000 after buying an additional 20,241,073 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Rogers Communications in the 2nd quarter valued at $265,009,000. USS Investment Management Ltd raised its stake in Rogers Communications by 70.8% in the 2nd quarter. USS Investment Management Ltd now owns 4,799,219 shares of the Wireless communications provider’s stock valued at $256,219,000 after purchasing an additional 1,989,592 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Rogers Communications by 402.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,202,595 shares of the Wireless communications provider’s stock valued at $63,835,000 after purchasing an additional 963,247 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Rogers Communications by 56.1% in the 2nd quarter. CIBC Asset Management Inc now owns 2,535,415 shares of the Wireless communications provider’s stock valued at $135,718,000 after purchasing an additional 910,726 shares during the last quarter. Hedge funds and other institutional investors own 43.43% of the company’s stock.

RCI has been the subject of several recent research reports. Zacks Investment Research downgraded Rogers Communications from a “hold” rating to a “sell” rating and set a $52.00 price objective for the company. in a research note on Tuesday, September 24th. Echelon Wealth Partners raised Rogers Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised Rogers Communications from a “sector perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Thursday, October 24th. TD Securities raised Rogers Communications to a “buy” rating in a research note on Monday, October 21st. Finally, ValuEngine raised Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Rogers Communications currently has a consensus rating of “Hold” and a consensus price target of $61.35.

NYSE RCI traded up $0.44 during mid-day trading on Monday, hitting $47.73. The stock had a trading volume of 305,603 shares, compared to its average volume of 431,860. The firm’s 50 day moving average is $48.43 and its 200 day moving average is $50.99. Rogers Communications Inc. has a twelve month low of $45.94 and a twelve month high of $55.93. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.71 and a quick ratio of 0.65. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 3.70 and a beta of 0.51.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, October 23rd. The Wireless communications provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.19. Rogers Communications had a return on equity of 25.20% and a net margin of 13.79%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the company earned $1.21 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts expect that Rogers Communications Inc. will post 3.2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a $0.378 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.51 dividend on an annualized basis and a dividend yield of 3.17%. Rogers Communications’s dividend payout ratio (DPR) is 44.78%.

Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

Further Reading: Momentum Indicator: Relative Strength Index

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

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