Cetera Investment Advisers Makes New Investment 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 stake in 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 firm bought 9,120 shares of the Wireless communications provider's stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RCI. Polar Asset Management Partners Inc. raised its position in Rogers Communication by 239.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock valued at $1,306,000 after purchasing an additional 29,982 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Rogers Communication by 280.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider's stock worth $7,428,000 after buying an additional 178,145 shares during the period. Gotham Asset Management LLC raised its holdings in Rogers Communication by 210.8% in the fourth quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock valued at $944,000 after acquiring an additional 20,833 shares in the last quarter. A&I Financial Services LLC lifted its stake in Rogers Communication by 66.0% in the first quarter. A&I Financial Services LLC now owns 19,637 shares of the Wireless communications provider's stock worth $525,000 after acquiring an additional 7,810 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Rogers Communication by 3.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 455,687 shares of the Wireless communications provider's stock valued at $12,306,000 after purchasing an additional 14,606 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on RCI. Barclays raised their price target on Rogers Communication from $31.00 to $33.00 and gave the company 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 report on Tuesday, July 15th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $59.00.

Rogers Communication Stock Performance

Shares of RCI stock traded down $0.1450 during trading hours on Monday, hitting $35.4950. The stock had a trading volume of 615,741 shares, compared to its average volume of 1,232,523. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. The firm has a market capitalization of $19.10 billion, a PE ratio of 17.66, a PEG ratio of 2.32 and a beta of 0.77. The stock's 50 day moving average is $32.52 and its 200 day moving average is $28.64. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $41.84.

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 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.02. The business had revenue of $3.82 billion for the quarter, compared to analysts' expectations of $5.12 billion. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. As a group, research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share 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. Stockholders of record on Monday, September 8th will be issued a $0.3672 dividend. The ex-dividend date of this dividend is Monday, September 8th. 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%. Rogers Communication's dividend payout ratio is currently 72.64%.

Rogers Communication 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.