Rogers Communication, Inc. (NYSE:RCI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank has increased its stake in Rogers Communication by 8.4%, acquiring a total of 228,459 shares valued at $6.1 million.
• Rogers Communication recently announced a quarterly dividend of $0.3672 per share, representing a 4.40% yield, exceeding the previous dividend of $0.36.
• The company's stock has demonstrated a 2.4% increase in quarterly revenue compared to the same period last year, with a reported Earnings Per Share (EPS) of $0.82 for the last quarter.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,459 shares of the Wireless communications provider's stock after acquiring an additional 17,684 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Rogers Communication were worth $6,100,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RCI. SBI Securities Co. Ltd. raised its position 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 valued at $25,000 after buying an additional 850 shares during the last quarter. Versant Capital Management Inc acquired a new position in Rogers Communication in the 1st quarter valued at $79,000. CWM LLC boosted its holdings 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 purchasing an additional 1,363 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings 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 purchasing an additional 3,718 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Rogers Communication by 274.2% in the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after purchasing an additional 3,888 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Canaccord Genuity Group upgraded Rogers Communication from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. BMO Capital Markets reaffirmed 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 report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $72.00.

Rogers Communication Trading Up 0.9%

Shares of Rogers Communication stock traded up $0.30 during trading hours on Friday, hitting $33.70. The company's stock had a trading volume of 1,211,417 shares, compared to its average volume of 1,580,831. The business has a fifty day moving average of $30.04 and a 200 day moving average of $27.94. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $18.13 billion, a PE ratio of 16.77, a P/E/G ratio of 1.81 and a beta of 0.77.

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 EPS 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 company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same period last year, the company posted $1.16 earnings per share. The firm's revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be given a $0.3672 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio is currently 72.64%.

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.