Rogers Communication, Inc. (NYSE:RCI) Stake Boosted by PCJ Investment Counsel Ltd.

Key Points

• PCJ Investment Counsel Ltd. increased its stake in Rogers Communication, Inc. by 383.5% in the first quarter, now holding 187,150 shares worth approximately $5,001,000.
• Rogers Communication has declared a quarterly dividend of $0.3672 per share, representing an annualized yield of 4.4%, and an increase from the previous quarter's dividend.
• The company's stock recently opened at $33.68 and reports a market capitalization of $18.12 billion, with earnings per share of $0.82 for the last quarter, exceeding analysts' expectations.

PCJ Investment Counsel Ltd. boosted its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 383.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,150 shares of the Wireless communications provider's stock after purchasing an additional 148,440 shares during the quarter. Rogers Communication makes up about 2.0% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 16th largest holding. PCJ Investment Counsel Ltd.'s holdings in Rogers Communication were worth $5,001,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RCI. APG Asset Management N.V. acquired a new position in shares of Rogers Communication in the 4th quarter valued at about $3,303,000. Polar Asset Management Partners Inc. boosted its stake in Rogers Communication by 239.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock valued at $1,306,000 after acquiring an additional 29,982 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Rogers Communication by 280.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider's stock valued at $7,428,000 after purchasing an additional 178,145 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Rogers Communication by 210.8% during the fourth quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock valued at $944,000 after purchasing an additional 20,833 shares during the last quarter. Finally, A&I Financial Services LLC raised its position in shares of Rogers Communication by 66.0% during the 1st quarter. A&I Financial Services LLC now owns 19,637 shares of the Wireless communications provider's stock worth $525,000 after purchasing an additional 7,810 shares during the period. Institutional investors own 45.49% of the company's stock.

Rogers Communication Price Performance

Shares of NYSE:RCI opened at $33.68 on Friday. The firm's 50 day moving average is $30.77 and its two-hundred day moving average is $28.12. The firm has a market capitalization of $18.12 billion, a P/E ratio of 16.75, a PEG ratio of 1.79 and a beta of 0.77. 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 52 week low of $23.18 and a 52 week high of $41.84.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. The business had revenue of $3.82 billion during 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%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. Analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on RCI shares. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $72.00.

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.

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