Mackenzie Financial Corp Purchases 536,623 Shares of Rogers Communication, Inc. $RCI

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

Several other institutional investors and hedge funds have also modified their holdings of the business. Headlands Technologies LLC increased its position in Rogers Communication by 143.2% during the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after acquiring an additional 978 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Rogers Communication by 106.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 1,005 shares during the period. MAI Capital Management grew its position 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 worth $58,000 after purchasing an additional 458 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 683 shares in the last quarter. Finally, Tobam increased its holdings in shares of Rogers Communication by 148.6% during the second quarter. Tobam now owns 4,005 shares of the Wireless communications provider’s stock worth $119,000 after purchasing an additional 2,394 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on RCI. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rogers Communication in a research note on Friday, December 26th. Desjardins lowered Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Finally, Wall Street Zen downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Trading Down 2.1%

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

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.98 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. Rogers Communication’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Equities research analysts predict that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 5.0%. Rogers Communication’s dividend payout ratio is currently 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.