Proficio Capital Partners LLC Takes Position in Rogers Communication, Inc. (NYSE:RCI)

Proficio Capital Partners LLC purchased a new position in 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 and Exchange Commission (SEC). The firm purchased 10,000 shares of the Wireless communications provider's stock, valued at approximately $267,000.

Other hedge funds also recently modified their holdings of the company. State of Tennessee Department of Treasury boosted its stake in shares of Rogers Communication by 0.3% during the fourth quarter. State of Tennessee Department of Treasury now owns 218,308 shares of the Wireless communications provider's stock valued at $6,708,000 after purchasing an additional 720 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Rogers Communication by 885.4% in the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock valued at $25,000 after acquiring an additional 850 shares during the last quarter. JTC Employer Solutions Trustee Ltd boosted its holdings in Rogers Communication by 1.2% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 102,545 shares of the Wireless communications provider's stock valued at $2,755,000 after acquiring an additional 1,180 shares during the last quarter. CWM LLC boosted its holdings in Rogers Communication by 57.4% in the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after acquiring an additional 1,363 shares during the last quarter. Finally, Prudential PLC boosted its holdings in Rogers Communication by 21.6% in the fourth quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider's stock valued at $268,000 after acquiring an additional 1,552 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on RCI shares. Canaccord Genuity Group upgraded Rogers Communication from a "hold" rating to a "buy" rating in a report on Friday, April 4th. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. One equities 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 currently has a consensus rating of "Hold" and an average price target of $72.00.

Rogers Communication Stock Performance

Rogers Communication stock traded down $0.14 during midday trading on Friday, reaching $34.32. The stock had a trading volume of 1,581,400 shares, compared to its average volume of 1,761,901. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The firm's 50-day moving average price is $29.42 and its 200 day moving average price is $27.82. The firm has a market capitalization of $18.46 billion, a PE ratio of 17.07, a P/E/G ratio of 1.85 and a beta of 0.76. The company has a quick ratio of 0.94, 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 announced 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 period in the prior year, the business posted $1.16 earnings per share. The company's revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders 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 dividend yield of 4.28%. Rogers Communication's dividend payout ratio is currently 73.13%.

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.