Cascade Investment Advisors Inc. Buys 1,590 Shares of Rogers Communications Inc. (NYSE:RCI)

Cascade Investment Advisors Inc. raised its stake in Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,780 shares of the Wireless communications provider’s stock after buying an additional 1,590 shares during the period. Cascade Investment Advisors Inc.’s holdings in Rogers Communications were worth $1,085,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RCI. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Rogers Communications by 20.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 291,120 shares of the Wireless communications provider’s stock worth $15,668,000 after buying an additional 48,530 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Rogers Communications by 551.2% in the 3rd quarter. BlackRock Inc. now owns 2,889,978 shares of the Wireless communications provider’s stock worth $134,790,000 after buying an additional 2,446,191 shares during the last quarter. Barclays PLC increased its holdings in shares of Rogers Communications by 64.6% in the 3rd quarter. Barclays PLC now owns 120,051 shares of the Wireless communications provider’s stock worth $5,600,000 after buying an additional 47,125 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Rogers Communications by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,787,940 shares of the Wireless communications provider’s stock worth $133,481,000 after buying an additional 64,151 shares during the last quarter. Finally, AlphaCrest Capital Management LLC increased its holdings in shares of Rogers Communications by 317.2% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 97,672 shares of the Wireless communications provider’s stock worth $4,555,000 after buying an additional 74,262 shares during the last quarter. 41.73% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Rogers Communications from C$76.00 to C$80.00 in a research note on Thursday, April 21st. Scotiabank upped their price objective on shares of Rogers Communications from C$87.00 to C$89.00 in a research note on Thursday, April 21st. Canaccord Genuity Group upped their price objective on shares of Rogers Communications from C$65.00 to C$69.00 and gave the company a “hold” rating in a research note on Thursday, April 14th. StockNews.com assumed coverage on shares of Rogers Communications in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Rogers Communications from C$78.00 to C$90.00 in a research report on Thursday, April 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $76.90.

Shares of Rogers Communications stock traded up $0.80 during trading on Friday, hitting $49.77. The company’s stock had a trading volume of 405,867 shares, compared to its average volume of 441,820. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.32 and a current ratio of 2.39. The company has a fifty day simple moving average of $55.13 and a two-hundred day simple moving average of $50.90. The company has a market capitalization of $25.13 billion, a PE ratio of 20.07, a P/E/G ratio of 2.67 and a beta of 0.47. Rogers Communications Inc. has a 52 week low of $44.19 and a 52 week high of $64.55.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 20th. The Wireless communications provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.09. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.63 billion. Rogers Communications had a net margin of 10.73% and a return on equity of 17.67%. Rogers Communications’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. As a group, analysts predict that Rogers Communications Inc. will post 3.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 4th. Investors of record on Friday, June 10th will be paid a $0.396 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.58 annualized dividend and a dividend yield of 3.18%. Rogers Communications’s payout ratio is 63.71%.

About Rogers Communications (Get Rating)

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.

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

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