Dynamic Technology Lab Private Ltd Purchases Shares of 11,675 Rogers Communication, Inc. $RCI

Key Points

• Dynamic Technology Lab Private Ltd has acquired 11,675 shares of Rogers Communication, Inc., valued at approximately $312,000.
• Rogers Communication recently increased its quarterly dividend to $0.3672, representing an annualized yield of 4.1%.
• Analysts maintain a consensus rating of "Hold" for Rogers Communication, with target prices ranging from $31.00 to $59.00.

Dynamic Technology Lab Private Ltd acquired a new stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,675 shares of the Wireless communications provider's stock, valued at approximately $312,000.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its stake in shares of 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 purchasing an additional 850 shares in the last quarter. Versant Capital Management Inc bought a new position in Rogers Communication in the 1st quarter worth approximately $79,000. CWM LLC grew its stake in Rogers Communication by 57.4% in the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after buying an additional 1,363 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Rogers Communication by 48.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider's stock valued at $113,000 after acquiring an additional 1,389 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in shares of Rogers Communication by 263.1% during the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock worth $137,000 after acquiring an additional 3,718 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Rogers Communication Price Performance

Rogers Communication stock traded down $0.53 during midday trading on Thursday, hitting $35.22. 1,002,948 shares of the company's stock were exchanged, compared to its average volume of 813,383. The company has a market cap of $18.95 billion, a P/E ratio of 17.52, a PEG ratio of 2.37 and a beta of 0.79. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70. The stock has a 50-day moving average price of $34.70 and a two-hundred day moving average price of $29.65. Rogers Communication, Inc. has a 52-week low of $23.18 and a 52-week high of $40.70.

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

Rogers Communication Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be given a dividend of $0.3672 per share. The ex-dividend date is Monday, September 8th. This is a boost from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a yield of 4.2%. Rogers Communication's dividend payout ratio (DPR) is presently 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.