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

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. grew its stake in shares of Rogers Communication by 885.4% during the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after acquiring an additional 850 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Rogers Communication during the first quarter worth about $79,000. CWM LLC grew its stake in shares of Rogers Communication by 57.4% during the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock worth $100,000 after acquiring an additional 1,363 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rogers Communication by 48.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider's stock worth $113,000 after acquiring an additional 1,389 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake 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 during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analyst Ratings Changes

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

Rogers Communication Price Performance

Shares of NYSE RCI opened at $35.78 on Friday. The business's 50 day moving average price is $34.44 and its 200 day moving average price is $29.44. The firm has a market cap of $19.25 billion, a P/E ratio of 17.80, a P/E/G ratio of 2.34 and a beta of 0.79. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.20. 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 issued 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 firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.Rogers Communication's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 earnings per share. On average, sell-side analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders 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 boost from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 4.1%. Rogers Communication's dividend payout ratio 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.

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