Raymond James Financial Inc. Purchases New Position in Rogers Communications Inc. (NYSE:RCI)

Raymond James Financial Inc. purchased a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) during the fourth quarter, Holdings Channel reports. The firm purchased 19,782 shares of the Wireless communications provider’s stock, valued at approximately $608,000.

Several other institutional investors also recently bought and sold shares of the business. Crossmark Global Holdings Inc. lifted its position in shares of Rogers Communications by 1.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock valued at $725,000 after buying an additional 379 shares in the last quarter. Verition Fund Management LLC lifted its holdings 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 purchasing an additional 551 shares in the last quarter. Waldron Private Wealth LLC grew its position in shares of Rogers Communications by 3.1% in the fourth quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock valued at $682,000 after purchasing an additional 660 shares during the period. State Street Corp increased its stake in shares of Rogers Communications by 0.5% during the third quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock worth $5,550,000 after purchasing an additional 661 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after purchasing an additional 930 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Stock Down 0.9 %

NYSE RCI opened at $25.85 on Monday. The business’s fifty day simple moving average is $27.72 and its 200-day simple moving average is $32.32. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The firm has a market cap of $13.86 billion, a PE ratio of 11.14, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 52 week low of $24.76 and a 52 week high of $41.84.

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

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors 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 59.48%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley initiated coverage on Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Scotiabank lowered shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.75.

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.