CIBC Asset Management Inc trimmed its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 8.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,833,347 shares of the Wireless communications provider’s stock after selling 277,691 shares during the quarter. Rogers Communications comprises about 0.9% of CIBC Asset Management Inc’s portfolio, making the stock its 29th biggest holding. CIBC Asset Management Inc’s holdings in Rogers Communications were worth $145,607,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Chicago Capital LLC bought a new stake in shares of Rogers Communications during the 2nd quarter valued at $239,000. Cozad Asset Management Inc. bought a new stake in shares of Rogers Communications during the 2nd quarter valued at $267,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Rogers Communications during the 2nd quarter valued at $287,000. Schroder Investment Management Group bought a new stake in shares of Rogers Communications during the 2nd quarter valued at $337,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in shares of Rogers Communications during the 2nd quarter valued at $403,000. Hedge funds and other institutional investors own 46.20% of the company’s stock.
Shares of RCI stock opened at $50.87 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 1.73. Rogers Communications Inc. has a twelve month low of $43.11 and a twelve month high of $54.95. The firm has a market cap of $26.19 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 3.14 and a beta of 0.72.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Friday, October 19th. The Wireless communications provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.05. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.91 billion. On average, research analysts expect that Rogers Communications Inc. will post 3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Tuesday, December 11th will be given a dividend of $0.3695 per share. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.48 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, December 10th. Rogers Communications’s dividend payout ratio is currently 54.24%.
A number of research firms have recently weighed in on RCI. Desjardins downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Zacks Investment Research upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, September 19th. Barclays dropped their price objective on Rogers Communications from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, July 20th. Finally, ValuEngine upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $61.00.
Rogers Communications Company Profile
Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.
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