BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Holdings in Rogers Communication, Inc. $RCI

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has increased its stake in Rogers Communication, Inc. by 26.6%, now holding a total of 212,645 shares valued at approximately $5.68 million.
• Rogers Communication recently declared a quarterly dividend of $0.3672 per share, representing a boost from the previous dividend and yielding 4.1%.
• Analysts have mixed ratings on Rogers Communication, with an average price target of $59.00, indicating potential for future growth despite a current "Hold" rating.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 26.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,645 shares of the Wireless communications provider's stock after purchasing an additional 44,627 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Rogers Communication were worth $5,680,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Polar Asset Management Partners Inc. grew its holdings in shares of Rogers Communication by 239.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock worth $1,306,000 after acquiring an additional 29,982 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Rogers Communication by 280.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider's stock worth $7,428,000 after acquiring an additional 178,145 shares during the period. Gotham Asset Management LLC grew its holdings in shares of Rogers Communication by 210.8% during the 4th quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock worth $944,000 after acquiring an additional 20,833 shares during the period. A&I Financial Services LLC grew its holdings in shares of Rogers Communication by 66.0% during the 1st 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 period. Finally, Deutsche Bank AG grew its holdings in shares of Rogers Communication by 4.7% during the 1st quarter. Deutsche Bank AG now owns 578,493 shares of the Wireless communications provider's stock worth $15,463,000 after acquiring an additional 25,717 shares during the period. Hedge funds and other institutional investors own 45.49% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rogers Communication Stock Up 0.4%

RCI stock traded up $0.16 during midday trading on Friday, hitting $35.86. The company's stock had a trading volume of 598,167 shares, compared to its average volume of 934,057. The company has a market cap of $19.29 billion, a PE ratio of 17.84, a P/E/G ratio of 2.32 and a beta of 0.77. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. The firm's 50-day moving average is $33.32 and its 200-day moving average is $28.91.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 21.59% and a net margin of 7.33%.The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 8th will be given a $0.3672 dividend. This is a boost from Rogers Communication's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.47 annualized dividend and a yield of 4.1%. Rogers Communication's payout ratio is currently 71.64%.

About Rogers Communication

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.