Zurcher Kantonalbank Zurich Cantonalbank Sells 40,058 Shares of Rogers Communications Inc. (NYSE:RCI)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 991,773 shares of the Wireless communications provider’s stock after selling 40,058 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.19% of Rogers Communications worth $39,922,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Cromwell Holdings LLC bought a new stake in shares of Rogers Communications during the third quarter worth $31,000. Ridgewood Investments LLC bought a new stake in shares of Rogers Communications during the second quarter worth $37,000. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 raised its position in shares of 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 bought a new stake in shares of Rogers Communications during the second quarter worth $55,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Up 0.3 %

Shares of Rogers Communications stock opened at $35.51 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. Rogers Communications Inc. has a 12 month low of $34.95 and a 12 month high of $48.19. The business has a fifty day simple moving average of $37.61 and a 200 day simple moving average of $38.46. The stock has a market cap of $18.92 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $0.3611 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.07%. Rogers Communications’s payout ratio is 72.20%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RCI. TD Securities boosted their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets boosted their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus 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.