7,813 Shares in Rogers Communications Inc. (NYSE:RCI) Acquired by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,813 shares of the Wireless communications provider’s stock, valued at approximately $314,000.

A number of other hedge funds also recently modified their holdings of RCI. 1832 Asset Management L.P. boosted its holdings in Rogers Communications by 2.6% in the second quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock valued at $425,341,000 after acquiring an additional 288,614 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Rogers Communications by 10.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after purchasing an additional 974,937 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after buying an additional 2,206,690 shares during the period. National Bank of Canada FI raised its stake in Rogers Communications by 37.5% during the first quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock worth $220,193,000 after buying an additional 1,519,894 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its holdings in Rogers Communications by 1.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 4,004,074 shares of the Wireless communications provider’s stock valued at $148,066,000 after buying an additional 57,245 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Performance

NYSE RCI opened at $35.75 on Friday. The company has a market cap of $19.05 billion, a P/E ratio of 17.44, a PEG ratio of 1.11 and a beta of 0.69. The company has a fifty day simple moving average of $38.49 and a 200 day simple moving average of $38.65. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. Rogers Communications Inc. has a 12-month low of $35.17 and a 12-month high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the company earned $0.95 earnings per share. The business’s revenue was up .7% on a year-over-year basis. Sell-side analysts predict that Rogers Communications Inc. will post 3.55 earnings per share for the current fiscal 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 issued a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 71.71%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RCI. Canaccord Genuity Group reissued a “hold” rating and issued a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. TD Securities raised their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus 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.