Minot DeBlois Advisors LLC Takes Position in Rogers Communications Inc. (NYSE:RCI)

Minot DeBlois Advisors LLC acquired a new position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,115 shares of the Wireless communications provider's stock, valued at approximately $434,000.

A number of other hedge funds have also recently modified their holdings of the business. FIL Ltd grew its stake in shares of Rogers Communications by 7.2% during the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock valued at $1,028,336,000 after buying an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Rogers Communications by 20.6% during the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock valued at $237,784,000 after buying an additional 1,320,200 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Rogers Communications by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock valued at $206,565,000 after buying an additional 3,717,487 shares during the last quarter. Letko Brosseau & Associates Inc. grew its stake in shares of Rogers Communications by 23.5% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider's stock valued at $160,094,000 after buying an additional 992,780 shares during the last quarter. Finally, Scotia Capital Inc. grew its stake in shares of Rogers Communications by 18.3% during the fourth quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock valued at $113,217,000 after buying an additional 572,270 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Up 1.2%

Rogers Communications stock traded up $0.30 during mid-day trading on Thursday, reaching $25.28. 638,870 shares of the company were exchanged, compared to its average volume of 1,016,982. The business has a fifty day moving average of $25.97 and a 200 day moving average of $29.49. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a market cap of $13.55 billion, a P/E ratio of 10.90, a PEG ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a 12-month low of $23.18 and a 12-month high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The firm's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. Research analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be issued a dividend of $0.3611 per share. The ex-dividend date is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.71%. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's dividend payout ratio is currently 59.66%.

Analysts Set New Price Targets

A number of research firms have recently commented on RCI. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. Finally, Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $67.00.

Rogers Communications 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.