Citigroup Inc. Buys 22,660 Shares of Rogers Communications Inc. (NYSE:RCI)

Citigroup Inc. increased its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 7.1% during the 3rd quarter, Holdings Channel reports. The fund owned 340,684 shares of the Wireless communications provider’s stock after acquiring an additional 22,660 shares during the period. Citigroup Inc.’s holdings in Rogers Communications were worth $13,714,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Rogers Communications by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 247,834 shares of the Wireless communications provider’s stock worth $10,161,000 after purchasing an additional 6,221 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Rogers Communications by 4.9% in the first quarter. Janus Henderson Group PLC now owns 21,932 shares of the Wireless communications provider’s stock worth $901,000 after acquiring an additional 1,022 shares in the last quarter. Cascade Investment Advisors Inc. grew its stake in Rogers Communications by 7.8% in the second quarter. Cascade Investment Advisors Inc. now owns 36,885 shares of the Wireless communications provider’s stock valued at $1,364,000 after acquiring an additional 2,655 shares during the period. Value Partners Investments Inc. increased its holdings in shares of Rogers Communications by 6.5% during the second quarter. Value Partners Investments Inc. now owns 1,699,541 shares of the Wireless communications provider’s stock valued at $62,849,000 after acquiring an additional 103,521 shares in the last quarter. Finally, CWM LLC raised its position in shares of Rogers Communications by 342.3% during the second quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock worth $67,000 after purchasing an additional 1,400 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Trading Up 0.3 %

NYSE RCI opened at $35.51 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The business has a fifty day simple moving average of $37.61 and a 200 day simple moving average of $38.46. Rogers Communications Inc. has a 12 month low of $34.95 and a 12 month high of $48.19. The firm has a market capitalization of $18.92 billion, a P/E ratio of 17.32, a PEG ratio of 1.11 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the firm earned $0.95 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Monday, December 9th. Rogers Communications’s payout ratio is 72.20%.

Analyst Ratings Changes

Several research firms recently issued reports on RCI. TD Securities lifted their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets lifted their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.75.

About Rogers Communications

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.