Crossmark Global Holdings Inc. Sells 12,070 Shares of Rogers Communications Inc. (NYSE:RCI)

Crossmark Global Holdings Inc. decreased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 34.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,184 shares of the Wireless communications provider’s stock after selling 12,070 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Rogers Communications were worth $933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of RCI. Cromwell Holdings LLC bought a new stake in Rogers Communications during the 3rd quarter worth about $31,000. Ridgewood Investments LLC bought a new stake in shares of Rogers Communications during the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 522 shares in the last quarter. Headlands Technologies LLC bought a new position in Rogers Communications in the 1st quarter worth approximately $42,000. Finally, Grove Bank & Trust lifted its holdings in Rogers Communications by 41.0% during the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after buying an additional 302 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Price Performance

Rogers Communications stock opened at $36.14 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 firm has a market capitalization of $19.26 billion, a P/E ratio of 17.63, a PEG ratio of 1.11 and a beta of 0.69. The business has a 50-day moving average of $38.69 and a 200-day moving average of $38.68. Rogers Communications Inc. has a 1 year low of $35.17 and a 1 year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.35. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. Rogers Communications’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. On average, equities analysts anticipate that Rogers Communications Inc. will post 3.55 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s payout ratio is presently 72.20%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RCI shares. TD Securities boosted their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets boosted their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $57.00 target price (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.