Mackenzie Financial Corp Purchases 37,013 Shares of Rogers Communication, Inc. (NYSE:RCI)

Key Points

• Mackenzie Financial Corp acquired an additional 37,013 shares of Rogers Communication, increasing its stake to 8,368,837 shares, valued at approximately $223.5 million.
• Rogers Communication recently announced a quarterly dividend increase to $0.3672 per share, representing a 4.28% dividend yield, payable on October 3rd.
• The company's stock has seen a 52-week range between $23.18 and $41.84, and shares currently opened at $34.32.

Mackenzie Financial Corp boosted its position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,368,837 shares of the Wireless communications provider's stock after purchasing an additional 37,013 shares during the quarter. Mackenzie Financial Corp owned approximately 1.56% of Rogers Communication worth $223,483,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Rogers Communication by 8.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 228,459 shares of the Wireless communications provider's stock worth $6,100,000 after acquiring an additional 17,684 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Rogers Communication in the first quarter worth about $244,000. Lincluden Management Ltd. increased its stake in shares of Rogers Communication by 21.3% during the first quarter. Lincluden Management Ltd. now owns 79,507 shares of the Wireless communications provider's stock valued at $2,123,000 after purchasing an additional 13,944 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Rogers Communication during the first quarter valued at approximately $267,000. Finally, SBI Securities Co. Ltd. lifted its holdings 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 valued at $25,000 after purchasing an additional 850 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Rogers Communication Stock Down 0.1%

Shares of Rogers Communication stock traded down $0.03 on Thursday, reaching $33.32. The company's stock had a trading volume of 479,903 shares, compared to its average volume of 1,259,719. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.82 and a beta of 0.76. 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, Inc. has a 52 week low of $23.18 and a 52 week high of $41.84. The firm's fifty day simple moving average is $29.90 and its two-hundred day simple moving average is $27.91.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, topping 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 company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. Rogers Communication's revenue was up 2.4% compared to the same quarter last year. Equities analysts anticipate 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 dividend of $0.3672 per share. This represents a $1.47 annualized dividend and a yield of 4.41%. 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. Rogers Communication's payout ratio is currently 72.64%.

Analyst Upgrades and Downgrades

RCI has been the topic of several recent research reports. Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Canaccord Genuity Group upgraded Rogers Communication from a "hold" rating to a "buy" rating in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $72.00.

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.