Rogers Communication, Inc. $RCI Shares Acquired by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. increased its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,506,317 shares of the Wireless communications provider’s stock after acquiring an additional 86,610 shares during the quarter. Rogers Communication comprises approximately 2.6% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 12th biggest position. Letko Brosseau & Associates Inc.’s holdings in Rogers Communication were worth $200,815,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RCI. Bank of Nova Scotia increased its position in Rogers Communication by 7.6% during the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock valued at $241,467,000 after purchasing an additional 445,964 shares during the period. TD Waterhouse Canada Inc. raised its holdings in Rogers Communication by 7.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,037,804 shares of the Wireless communications provider’s stock worth $155,491,000 after purchasing an additional 332,725 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Rogers Communication by 98.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock worth $77,871,000 after purchasing an additional 1,004,963 shares in the last quarter. Gabelli Funds LLC raised its holdings in Rogers Communication by 10.5% in the 1st quarter. Gabelli Funds LLC now owns 1,495,950 shares of the Wireless communications provider’s stock worth $57,519,000 after purchasing an additional 142,650 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Rogers Communication by 27.0% in the 1st quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock worth $47,146,000 after purchasing an additional 261,000 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Trading Down 0.6%

NYSE RCI opened at $32.84 on Friday. The firm has a market capitalization of $17.74 billion, a PE ratio of 9.25, a P/E/G ratio of 3.79 and a beta of 0.66. The stock’s 50 day moving average is $33.01 and its 200 day moving average is $35.55. Rogers Communication, Inc. has a twelve month low of $29.25 and a twelve month high of $41.14. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.65.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Friday, October 23rd. The Wireless communications provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communication had a return on equity of 11.51% and a net margin of 4.11%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. Research analysts forecast that Rogers Communication, Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 8th will be issued a dividend of C$0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Tuesday, December 8th. Rogers Communication’s payout ratio is 120.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays cut their target price on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, October 20th. Desjardins raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Monday, September 14th. TD Securities restated a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Finally, Wall Street Zen raised Rogers Communication from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.00.

About Rogers Communication

Rogers Communications Inc. is a Canadian communications and media company headquartered in Toronto. Founded by Ted Rogers in 1960, the company serves consumers and businesses across Canada. Its telecommunications operations provide wireless voice and data services, internet access, cable television and home phone services. Rogers offers wireless services through brands including Rogers, Fido and Chatr. The company also operates media businesses, including Sportsnet, Citytv, OMNI Television and radio stations.