Deutsche Bank AG Increases Position in Rogers Communication, Inc. $RCI

Key Points

• Deutsche Bank AG has increased its stake in Rogers Communication by 4.7%, now owning approximately 0.11% of the company, worth around $15.5 million.
• Rogers Communication reported an EPS of $0.82 for its latest quarter, beating expectations, but its revenue fell short at $3.82 billion compared to the anticipated $5.12 billion.
• The company declared a quarterly dividend increase to $0.3672, with an annual yield of 4.2%, representing a positive change from the previous quarter's dividend.

Deutsche Bank AG lifted its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 578,493 shares of the Wireless communications provider's stock after buying an additional 25,717 shares during the period. Deutsche Bank AG owned approximately 0.11% of Rogers Communication worth $15,463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Rogers Communication by 79.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 376,794 shares of the Wireless communications provider's stock worth $10,061,000 after buying an additional 166,661 shares during the period. ASR Vermogensbeheer N.V. acquired a new stake in shares of Rogers Communication during the first quarter worth $236,000. Scotia Capital Inc. lifted its position in Rogers Communication by 10.0% during the first quarter. Scotia Capital Inc. now owns 4,068,135 shares of the Wireless communications provider's stock valued at $108,542,000 after purchasing an additional 370,490 shares during the period. Bank of Nova Scotia lifted its position in Rogers Communication by 3.4% during the first quarter. Bank of Nova Scotia now owns 7,998,907 shares of the Wireless communications provider's stock valued at $213,641,000 after purchasing an additional 262,705 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Rogers Communication by 15.9% during the first quarter. PNC Financial Services Group Inc. now owns 16,447 shares of the Wireless communications provider's stock valued at $440,000 after purchasing an additional 2,253 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 restated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Finally, Barclays boosted their target price on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $59.00.

Rogers Communication Price Performance

Shares of RCI stock traded down $0.0050 on Tuesday, reaching $35.1650. 123,682 shares of the company were exchanged, compared to its average volume of 1,241,328. The company has a market cap of $18.92 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 2.30 and a beta of 0.77. The business has a 50-day moving average price of $31.88 and a 200 day moving average price of $28.42. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 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 analysts' expectations of $5.12 billion. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 earnings per share. Equities research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 8th will be paid a dividend of $0.3672 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.47 annualized dividend and a yield of 4.2%. This is a boost from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio is currently 72.64%.

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.