Cambridge Investment Research Advisors Inc. Raises Stake in Rogers Communication, Inc. (RCI)
Cambridge Investment Research Advisors Inc. increased its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 28.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,617 shares of the Wireless communications provider’s stock after buying an additional 9,816 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Rogers Communication were worth $2,106,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Creative Planning boosted its stake in Rogers Communication by 7.8% in the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock valued at $113,000 after buying an additional 173 shares in the last quarter. US Bancorp DE boosted its stake in Rogers Communication by 8.8% in the first quarter. US Bancorp DE now owns 3,429 shares of the Wireless communications provider’s stock valued at $152,000 after buying an additional 278 shares in the last quarter. Wetherby Asset Management Inc. bought a new stake in Rogers Communication during the second quarter valued at approximately $203,000. Paloma Partners Management Co bought a new stake in Rogers Communication during the first quarter valued at approximately $288,000. Finally, Signaturefd LLC bought a new stake in Rogers Communication during the first quarter valued at approximately $304,000. Institutional investors and hedge funds own 47.55% of the company’s stock.
Rogers Communication, Inc. (NYSE:RCI) opened at 52.17 on Friday. The company has a market cap of $26.86 billion, a price-to-earnings ratio of 32.91 and a beta of 0.86. The company’s 50-day moving average is $51.25 and its 200 day moving average is $46.71. Rogers Communication, Inc. has a 12 month low of $37.03 and a 12 month high of $53.07.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that Rogers Communication, Inc. will post $2.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, September 14th. Rogers Communication’s dividend payout ratio is currently 95.95%.
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Several analysts recently commented on RCI shares. BidaskClub upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Wednesday, July 12th. Finally, Morgan Stanley raised their price target on shares of Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.43.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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