Quantinno Capital Management LP Increases Holdings in Rogers Communications Inc. (NYSE:RCI)

Quantinno Capital Management LP grew its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 28,666 shares of the Wireless communications provider’s stock after acquiring an additional 1,023 shares during the quarter. Quantinno Capital Management LP’s holdings in Rogers Communications were worth $1,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Rogers Communications by 2.6% in the first quarter. Vanguard Group Inc. now owns 247,834 shares of the Wireless communications provider’s stock worth $10,161,000 after purchasing an additional 6,221 shares during the period. CWM LLC increased its position in shares of Rogers Communications by 342.3% during the second quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock worth $67,000 after purchasing an additional 1,400 shares in the last quarter. Monarch Capital Management Inc. increased its position in shares of Rogers Communications by 12.7% during the second quarter. Monarch Capital Management Inc. now owns 38,693 shares of the Wireless communications provider’s stock worth $1,438,000 after purchasing an additional 4,360 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Rogers Communications by 39.1% during the second quarter. Bank of New York Mellon Corp now owns 571,923 shares of the Wireless communications provider’s stock worth $21,150,000 after buying an additional 160,768 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Rogers Communications during the 2nd quarter worth about $37,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Performance

NYSE RCI opened at $33.71 on Friday. The stock has a market cap of $18.01 billion, a PE ratio of 16.44, a PEG ratio of 1.09 and a beta of 0.67. The firm’s fifty day moving average price is $36.76 and its two-hundred day moving average price is $38.19. 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 Inc. has a fifty-two week low of $33.51 and a fifty-two week high of $48.19.

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

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $0.3611 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 71.71%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RCI shares. TD Securities lifted their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets increased their price target 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications 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.