Earnest Partners LLC Decreases Holdings in Rogers Communication, Inc. (RCI)
Earnest Partners LLC lessened its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 2.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,358,779 shares of the Wireless communications provider’s stock after selling 32,560 shares during the quarter. Earnest Partners LLC owned approximately 0.26% of Rogers Communication worth $64,148,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning grew its stake in shares of Rogers Communication by 7.8% during the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after buying an additional 173 shares during the last quarter. US Bancorp DE grew its stake in shares of Rogers Communication by 8.8% during the first quarter. US Bancorp DE now owns 3,429 shares of the Wireless communications provider’s stock worth $152,000 after buying an additional 278 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of Rogers Communication during the second quarter worth $203,000. Institute for Wealth Management LLC. bought a new stake in shares of Rogers Communication during the second quarter worth $271,000. Finally, Paloma Partners Management Co bought a new stake in shares of Rogers Communication during the first quarter worth $288,000. 47.43% of the stock is currently owned by hedge funds and other institutional investors.
RCI has been the topic of a number of research reports. BidaskClub raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Monday, September 25th. Finally, Morgan Stanley boosted their target price on shares of Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.29.
Shares of Rogers Communication, Inc. (NYSE:RCI) traded up 0.62% during trading on Friday, hitting $51.83. 268,324 shares of the stock were exchanged. The firm has a market capitalization of $26.68 billion, a price-to-earnings ratio of 31.34 and a beta of 0.86. Rogers Communication, Inc. has a 52 week low of $37.03 and a 52 week high of $53.55. The stock’s 50 day moving average price is $51.92 and its 200 day moving average price is $48.41.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Rogers Communication had a net margin of 7.42% and a return on equity of 28.90%. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the firm earned $0.83 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Rogers Communication, Inc. will post $2.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 15th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Thursday, September 14th. Rogers Communication’s dividend payout ratio is currently 104.05%.
ILLEGAL ACTIVITY NOTICE: This story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/10/08/earnest-partners-llc-decreases-holdings-in-rogers-communication-inc-rci.html.
About Rogers Communication
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.
Receive News & Stock Ratings for Rogers Communication Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communication Inc. and related stocks with our FREE daily email newsletter.