Korea Investment CORP Acquires 56,100 Shares of Rogers Communication, Inc. $RCI

Korea Investment CORP grew its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 65.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 141,845 shares of the Wireless communications provider’s stock after acquiring an additional 56,100 shares during the period. Korea Investment CORP’s holdings in Rogers Communication were worth $4,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its position in Rogers Communication by 15.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock valued at $284,981,000 after buying an additional 1,255,794 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Rogers Communication by 18.0% in the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after acquiring an additional 1,272,065 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Rogers Communication by 3.5% during the second quarter. Bank of Nova Scotia now owns 8,279,443 shares of the Wireless communications provider’s stock valued at $245,489,000 after acquiring an additional 280,536 shares in the last quarter. Letko Brosseau & Associates Inc. raised its position in shares of Rogers Communication by 14.8% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock worth $199,922,000 after purchasing an additional 868,800 shares during the last quarter. Finally, Burgundy Asset Management Ltd. boosted its stake in Rogers Communication by 18.9% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,172,546 shares of the Wireless communications provider’s stock worth $123,528,000 after purchasing an additional 662,594 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RCI shares. Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Morgan Stanley reissued an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. TD Cowen restated a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Wall Street Zen cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Desjardins lowered Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.00.

Rogers Communication Price Performance

Shares of RCI opened at $38.72 on Friday. The firm has a market cap of $20.91 billion, a PE ratio of 4.19, a P/E/G ratio of 5.22 and a beta of 0.74. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48. The firm has a fifty day simple moving average of $37.89 and a two-hundred day simple moving average of $37.27. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.14.

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

Rogers Communication Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be issued 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 yield of 5.2%. Rogers Communication’s dividend payout ratio is currently 15.89%.

About Rogers Communication

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.