Cetera Investment Advisers Purchases New Position in Rogers Communication, Inc. $RCI

Key Points

• Cetera Investment Advisers has acquired 9,120 shares of Rogers Communication, Inc. (NYSE: RCI) worth approximately $244,000, marking their new position in the company.
• Rogers Communication has recently declared a $0.3672 quarterly dividend, representing a yield of 4.1%, which is an increase from the previous quarter's dividend of $0.36.
• Analysts have given Rogers Communication a consensus rating of "Hold"**, with a consensus target price of $59.00, while Barclays raised its price target from $31.00 to $33.00.

Cetera Investment Advisers bought a new position in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,120 shares of the Wireless communications provider's stock, valued at approximately $244,000.

A number of other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its stake in Rogers Communication by 885.4% in the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after buying an additional 850 shares in the last quarter. Versant Capital Management Inc bought a new position in Rogers Communication in the first quarter worth about $79,000. CWM LLC raised its stake in Rogers Communication by 57.4% in the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock worth $100,000 after buying an additional 1,363 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Rogers Communication by 263.1% in the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock worth $137,000 after buying an additional 3,718 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Rogers Communication in the first quarter worth about $267,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RCI shares. Barclays increased their price target on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rogers Communication presently has a consensus rating of "Hold" and a consensus target price of $59.00.

Rogers Communication Stock Up 1.5%

Shares of NYSE RCI traded up $0.53 on Wednesday, reaching $35.78. 998,959 shares of the company's stock traded hands, compared to its average volume of 1,002,825. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The business's 50 day simple moving average is $32.99 and its two-hundred day simple moving average is $28.79. The company has a market cap of $19.25 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be paid a dividend of $0.3672 per share. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 8th. Rogers Communication's payout ratio is 72.64%.

Rogers Communication 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.