State of Tennessee Department of Treasury Acquires 720 Shares of Rogers Communications Inc. (NYSE:RCI)

State of Tennessee Department of Treasury increased its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 218,308 shares of the Wireless communications provider’s stock after purchasing an additional 720 shares during the period. State of Tennessee Department of Treasury’s holdings in Rogers Communications were worth $6,708,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in shares of Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock worth $47,000 after buying an additional 744 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Rogers Communications by 141.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after acquiring an additional 1,052 shares during the last quarter. Headlands Technologies LLC raised its position in Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock valued at $163,000 after purchasing an additional 3,888 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after purchasing an additional 930 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Rogers Communications in the 3rd quarter worth about $248,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Up 0.6 %

NYSE RCI opened at $25.23 on Friday. Rogers Communications Inc. has a 1 year low of $23.18 and a 1 year high of $41.84. The stock has a market capitalization of $13.53 billion, a PE ratio of 10.88, a PEG ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The business’s 50-day moving average is $26.74 and its 200 day moving average is $30.82.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Sell-side analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be given a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 annualized dividend and a dividend yield of 5.72%. This is a boost from Rogers Communications’s previous quarterly dividend of $0.35. Rogers Communications’s payout ratio is currently 59.48%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RCI shares. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Scotiabank cut shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Finally, Canaccord Genuity Group upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.00.

About Rogers Communications

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.