Rogers Communication, Inc. $RCI Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,161,532 shares of the Wireless communications provider’s stock after purchasing an additional 536,623 shares during the quarter. Mackenzie Financial Corp owned about 1.51% of Rogers Communication worth $280,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp raised its holdings in shares of Rogers Communication by 6.0% during the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock valued at $203,000 after acquiring an additional 334 shares during the period. MAI Capital Management lifted its holdings in shares of Rogers Communication by 30.5% during the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock valued at $58,000 after buying an additional 458 shares during the last quarter. Gold Investment Management Ltd. grew its position in Rogers Communication by 2.1% in the third quarter. Gold Investment Management Ltd. now owns 29,233 shares of the Wireless communications provider’s stock worth $1,007,000 after acquiring an additional 590 shares in the last quarter. Public Sector Pension Investment Board increased its position in Rogers Communication by 1.8% during the second quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock worth $1,101,000 after buying an additional 640 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after acquiring an additional 683 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. TD Cowen reissued a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a research note on Wednesday, December 10th. Desjardins downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Stock Down 2.1%

RCI stock opened at $39.77 on Wednesday. The firm has a market capitalization of $21.48 billion, a PE ratio of 4.30, a PEG ratio of 5.38 and a beta of 0.74. The business’s 50 day simple moving average is $37.83 and its 200 day simple moving average is $37.24. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.14. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. Rogers Communication’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. As a group, research analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.00 annualized dividend and a dividend yield of 5.0%. Rogers Communication’s dividend payout ratio is presently 15.78%.

Rogers Communication Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.