Dixon Mitchell Investment Counsel Inc. Increases Holdings in Rogers Communications Inc. (NYSE:RCI)

Dixon Mitchell Investment Counsel Inc. increased its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 154,928 shares of the Wireless communications provider’s stock after purchasing an additional 2,886 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in Rogers Communications were worth $4,814,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RCI. Acadian Asset Management LLC purchased a new position in shares of Rogers Communications in the second quarter valued at $55,000. American Century Companies Inc. grew its holdings in shares of Rogers Communications by 9.7% during the second quarter. American Century Companies Inc. now owns 68,679 shares of the Wireless communications provider’s stock worth $2,540,000 after buying an additional 6,099 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Rogers Communications by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,521,446 shares of the Wireless communications provider’s stock worth $56,071,000 after acquiring an additional 21,060 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Rogers Communications by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 604,138 shares of the Wireless communications provider’s stock worth $22,341,000 after acquiring an additional 33,930 shares during the period. Finally, Seven Eight Capital LP acquired a new position in Rogers Communications in the 2nd quarter valued at $867,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RCI. TD Securities upped their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets increased their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley began coverage on Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.75.

Rogers Communications Stock Down 0.4 %

Shares of Rogers Communications stock opened at $28.43 on Thursday. The company has a fifty day moving average price of $33.30 and a 200 day moving average price of $36.88. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. Rogers Communications Inc. has a twelve month low of $27.63 and a twelve month high of $48.19. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.91 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company’s revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Equities research analysts forecast that Rogers Communications Inc. will post 3.52 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $0.3611 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 5.08%. Rogers Communications’s dividend payout ratio (DPR) is presently 68.78%.

Rogers Communications 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.