Rogers Communication, Inc. $RCI Shares Acquired by Deutsche Bank AG

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 Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 578,493 shares of the Wireless communications provider's stock after purchasing an additional 25,717 shares during the quarter. Deutsche Bank AG owned about 0.11% of Rogers Communication worth $15,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in shares of Rogers Communication by 0.4% during the first quarter. Mackenzie Financial Corp now owns 8,368,837 shares of the Wireless communications provider's stock worth $223,483,000 after buying an additional 37,013 shares during the period. Bank of Nova Scotia boosted its position in shares of 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 worth $213,641,000 after buying an additional 262,705 shares during the period. Letko Brosseau & Associates Inc. boosted its position in shares of Rogers Communication by 13.0% during the first quarter. Letko Brosseau & Associates Inc. now owns 5,885,187 shares of the Wireless communications provider's stock worth $157,143,000 after buying an additional 674,807 shares during the period. Scotia Capital Inc. boosted its position in shares of 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 worth $108,542,000 after buying an additional 370,490 shares during the period. Finally, Intact Investment Management Inc. boosted its position in shares of Rogers Communication by 55.7% during the first quarter. Intact Investment Management Inc. now owns 2,913,921 shares of the Wireless communications provider's stock worth $77,827,000 after buying an additional 1,042,690 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Stock Down 0.3%

NYSE RCI traded down $0.09 during trading on Monday, reaching $35.23. 314,344 shares of the company's stock were exchanged, compared to its average volume of 1,246,058. The stock has a market cap of $18.95 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70. The company has a 50 day moving average price of $31.71 and a two-hundred day moving average price of $28.37. 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 announced its quarterly earnings results 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 company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%. Rogers Communication's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. On average, equities research analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be issued a $0.3672 dividend. This represents a $1.47 annualized dividend and a dividend yield of 4.2%. 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 (DPR) is presently 71.64%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. Finally, Barclays upped their target price on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. One 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. According to MarketBeat, Rogers Communication has an average rating of "Hold" and an average price target of $59.00.

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.