Rogers Communication, Inc. (NYSE:RCI) Shares Purchased 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 raised its holdings in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 8.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 228,459 shares of the Wireless communications provider's stock after purchasing an additional 17,684 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Rogers Communication were worth $6,100,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RCI. SBI Securities Co. Ltd. grew its position in shares of Rogers Communication by 885.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after buying an additional 850 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Rogers Communication in the 1st quarter worth approximately $79,000. CWM LLC boosted 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 worth $100,000 after purchasing an additional 1,363 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Rogers Communication by 263.1% in the 1st 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 in the last quarter. Finally, Headlands Technologies LLC boosted its stake in Rogers Communication by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after purchasing an additional 3,888 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communication Stock Performance

NYSE RCI traded up $0.30 on Friday, hitting $33.70. 1,211,417 shares of the company's stock traded hands, compared to its average volume of 1,580,831. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The firm's 50-day moving average price is $30.19 and its two-hundred day moving average price is $27.97. The firm has a market capitalization of $18.13 billion, a PE ratio of 16.77, a P/E/G ratio of 1.82 and a beta of 0.77.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced 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 net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $5.12 billion. During the same period in the previous year, the business posted $1.16 EPS. The business's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be paid a dividend of $0.3672 per share. This represents a $1.47 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, September 8th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio (DPR) is presently 72.64%.

Analysts Set New Price Targets

A number of research firms recently commented on RCI. Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Rogers Communication currently has an average rating of "Hold" and a consensus target price 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.