Oppenheimer & Co. Inc. Invests $273,000 in Rogers Communication, Inc. (NYSE:RCI)

Oppenheimer & Co. Inc. acquired a new stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,200 shares of the Wireless communications provider’s stock, valued at approximately $273,000.

A number of other institutional investors have also made changes to their positions in RCI. Lindbrook Capital LLC raised its position in shares of Rogers Communication by 95.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after purchasing an additional 744 shares during the period. Jones Financial Companies Lllp grew its stake in Rogers Communication by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after buying an additional 1,052 shares during the last quarter. Versant Capital Management Inc acquired a new position in Rogers Communication in the 1st quarter valued at $79,000. Headlands Technologies LLC raised its holdings in Rogers Communication by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock worth $163,000 after acquiring an additional 3,888 shares during the period. Finally, Prudential PLC lifted its position in Rogers Communication by 21.6% during the 4th quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider’s stock worth $268,000 after acquiring an additional 1,552 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating on shares of Rogers Communication in a research report on Wednesday. Canaccord Genuity Group upgraded Rogers Communication from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Finally, Scotiabank cut Rogers Communication from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.00.

Rogers Communication Trading Up 5.1%

Shares of RCI opened at $31.87 on Thursday. The stock’s 50-day moving average price is $26.79 and its 200 day moving average price is $27.55. The company has a quick ratio of 0.94, a current ratio of 1.00 and a debt-to-equity ratio of 3.97. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.68 and a beta of 0.76. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.84.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $4.96 billion. Rogers Communication had a return on equity of 25.28% and a net margin of 8.53%. Rogers Communication’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. As a group, research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be paid a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.53%. This is an increase from Rogers Communication’s previous quarterly dividend of $0.35. Rogers Communication’s payout ratio is currently 62.66%.

Rogers Communication 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.