Massachusetts Financial Services Co. MA Acquires 17,666 Shares of Rogers Communications Inc. (NYSE:RCI)

Massachusetts Financial Services Co. MA increased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,914,155 shares of the Wireless communications provider’s stock after acquiring an additional 17,666 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Rogers Communications were worth $89,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Rogers Communications by 106.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock valued at $5,383,000 after purchasing an additional 68,971 shares in the last quarter. BNP Paribas Financial Markets increased its position in Rogers Communications by 107.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 37,436 shares of the Wireless communications provider’s stock valued at $1,505,000 after buying an additional 19,378 shares in the last quarter. Verition Fund Management LLC raised its stake in Rogers Communications by 7.9% during the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after buying an additional 551 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Rogers Communications by 3.7% in the third quarter. Quantinno Capital Management LP now owns 28,666 shares of the Wireless communications provider’s stock worth $1,153,000 after acquiring an additional 1,023 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Rogers Communications by 0.5% in the third quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock worth $5,550,000 after acquiring an additional 661 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

RCI stock opened at $25.85 on Friday. The company has a market cap of $13.86 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications Inc. has a 1 year low of $24.76 and a 1 year high of $41.84. The stock’s fifty day moving average price is $27.72 and its 200-day moving average price is $32.43.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. On average, equities analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were given a $0.347 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 5.37%. Rogers Communications’s payout ratio is presently 59.48%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RCI. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley initiated coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Scotiabank downgraded shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.