Rogers Communications Inc. (NYSE:RCI) Shares Bought by Monarch Capital Management Inc.

Monarch Capital Management Inc. boosted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 25.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 49,013 shares of the Wireless communications provider’s stock after purchasing an additional 9,875 shares during the period. Monarch Capital Management Inc.’s holdings in Rogers Communications were worth $1,515,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RCI. Cromwell Holdings LLC acquired a new stake in Rogers Communications during the third quarter worth about $31,000. Northwestern Mutual Wealth Management Co. boosted its position in Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 522 shares in the last quarter. Grove Bank & Trust grew its stake in shares of 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 purchasing an additional 302 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Rogers Communications during the 2nd quarter valued at approximately $55,000. Finally, Nexus Investment Management ULC acquired a new position in shares of Rogers Communications in the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

RCI has been the topic of several analyst reports. Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Rogers Communications currently has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $28.19 on Friday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The firm has a fifty day moving average of $32.81 and a 200 day moving average of $36.71. The firm has a market cap of $15.07 billion, a PE ratio of 13.75, a PEG ratio of 0.91 and a beta of 0.69. Rogers Communications Inc. has a one year low of $27.63 and a one year high of $48.19.

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

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $0.3611 per share. The ex-dividend date was Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 5.12%. Rogers Communications’s dividend payout ratio (DPR) is currently 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.