PCJ Investment Counsel Ltd. Buys 7,050 Shares of Rogers Communications Inc. (NYSE:RCI)

PCJ Investment Counsel Ltd. grew its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,530 shares of the Wireless communications provider’s stock after purchasing an additional 7,050 shares during the quarter. Rogers Communications makes up 3.2% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 6th biggest position. PCJ Investment Counsel Ltd.’s holdings in Rogers Communications were worth $9,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Cromwell Holdings LLC acquired a new position in Rogers Communications during the third quarter worth about $31,000. Ridgewood Investments LLC acquired a new position in Rogers Communications during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. boosted its position in Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 522 shares during the last quarter. Grove Bank & Trust boosted its position in Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after acquiring an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Rogers Communications during the second quarter worth about $55,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RCI shares. TD Securities boosted their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets boosted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $57.00 price target (down from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications Price Performance

Rogers Communications stock opened at $35.80 on Wednesday. Rogers Communications Inc. has a 1 year low of $35.17 and a 1 year high of $48.19. The company’s 50 day simple moving average is $38.30 and its 200-day simple moving average is $38.63. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68.

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 for the quarter, topping 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 firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts expect that Rogers Communications Inc. will post 3.55 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, December 9th. Rogers Communications’s payout ratio is currently 72.20%.

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.