Rogers Communication, Inc. $RCI Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 9.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,064,898 shares of the Wireless communications provider’s stock after selling 205,919 shares during the period. JPMorgan Chase & Co.’s holdings in Rogers Communication were worth $71,177,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RCI. Van ECK Associates Corp boosted its stake in Rogers Communication by 6.0% during the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock worth $203,000 after buying an additional 334 shares during the last quarter. MAI Capital Management increased its stake in shares of Rogers Communication by 30.5% in the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock worth $58,000 after acquiring an additional 458 shares during the last quarter. Gold Investment Management Ltd. increased its stake in shares of Rogers Communication by 2.1% in the 3rd quarter. Gold Investment Management Ltd. now owns 29,233 shares of the Wireless communications provider’s stock worth $1,007,000 after acquiring an additional 590 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Rogers Communication by 1.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock worth $1,101,000 after acquiring an additional 640 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 683 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Performance

Shares of Rogers Communication stock opened at $39.02 on Thursday. The firm has a market cap of $21.08 billion, a PE ratio of 4.22, a price-to-earnings-growth ratio of 5.22 and a beta of 0.74. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.14. The business’s fifty day simple moving average is $38.02 and its 200-day simple moving average is $37.37.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data 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 during 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 quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the company earned $1.46 EPS. Equities analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.1%. Rogers Communication’s dividend payout ratio (DPR) is currently 15.89%.

Wall Street Analysts Forecast Growth

RCI has been the subject of a number of analyst reports. TD Securities reissued a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a research note on Wednesday, December 10th. Barclays reiterated a “positive” rating and issued a $37.00 target price on shares of Rogers Communication in a report on Tuesday, January 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a research note on Friday, December 26th. Finally, Wall Street Zen downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Company 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.