Advisory Services Network LLC boosted its stake in Rogers Communication Inc. (NYSE:RCI) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 9,444 shares of the company’s stock after buying an additional 5 shares during the period. Advisory Services Network LLC’s holdings in Rogers Communication were worth $382,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of RCI. Renaissance Technologies LLC boosted its stake in Rogers Communication by 34.4% in the first quarter. Renaissance Technologies LLC now owns 537,500 shares of the company’s stock valued at $21,519,000 after buying an additional 137,700 shares in the last quarter. Prudential PLC boosted its stake in Rogers Communication by 44.5% in the first quarter. Prudential PLC now owns 25,000 shares of the company’s stock valued at $1,001,000 after buying an additional 7,700 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its stake in Rogers Communication by 23.5% in the first quarter. PCJ Investment Counsel Ltd. now owns 507,416 shares of the company’s stock valued at $20,399,000 after buying an additional 96,596 shares in the last quarter. Quadrature Capital Ltd boosted its stake in Rogers Communication by 137.5% in the first quarter. Quadrature Capital Ltd now owns 20,900 shares of the company’s stock valued at $835,000 after buying an additional 12,100 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Rogers Communication by 25.1% in the first quarter. 1832 Asset Management L.P. now owns 8,826,369 shares of the company’s stock valued at $555,237,000 after buying an additional 1,772,938 shares in the last quarter. 49.28% of the stock is owned by institutional investors and hedge funds.
Rogers Communication Inc. (NYSE:RCI) traded down 2.51% during mid-day trading on Friday, reaching $40.79. 349,076 shares of the company’s stock were exchanged. The stock has a market cap of $21.00 billion, a price-to-earnings ratio of 19.80 and a beta of 0.87. The stock has a 50-day moving average of $42.75 and a 200-day moving average of $40.80. Rogers Communication Inc. has a one year low of $32.50 and a one year high of $45.50.
Rogers Communication (NYSE:RCI) last posted its earnings results on Thursday, July 21st. The company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The business earned $3.46 billion during the quarter, compared to analyst estimates of $3.47 billion. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, equities research analysts anticipate that Rogers Communication Inc. will post $2.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Sunday, September 11th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Wednesday, September 7th. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. Rogers Communication’s payout ratio is presently 71.36%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Rogers Communication from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th. TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. TD Securities reissued a “buy” rating and issued a $58.00 target price on shares of Rogers Communication in a report on Wednesday, July 6th. Canaccord Genuity reissued a “hold” rating on shares of Rogers Communication in a report on Tuesday, July 19th. Finally, Bank of America Corp. assumed coverage on shares of Rogers Communication in a report on Tuesday, July 5th. They issued a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Rogers Communication has an average rating of “Buy” and a consensus price target of C$49.56.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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