Russell Investments Group Ltd. Has $132.86 Million Holdings in Rogers Communication, Inc. (RCI)
Russell Investments Group Ltd. raised its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,582,482 shares of the Wireless communications provider’s stock after buying an additional 132,934 shares during the period. Russell Investments Group Ltd. owned about 0.50% of Rogers Communication worth $132,863,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Creative Planning raised 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 raised its stake in Rogers Communication by 14.6% in the second quarter. US Bancorp DE now owns 3,930 shares of the Wireless communications provider’s stock valued at $185,000 after buying an additional 501 shares in the last quarter. Fort Pitt Capital Group LLC acquired a new stake in Rogers Communication in the third quarter valued at $211,000. Wetherby Asset Management Inc. acquired a new stake in Rogers Communication in the second quarter valued at $203,000. Finally, Cumberland Partners Ltd acquired a new stake in Rogers Communication in the third quarter valued at $245,000. Institutional investors own 47.31% of the company’s stock.
A number of research firms have weighed in on RCI. Barclays PLC raised their price target on Rogers Communication from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th. Zacks Investment Research cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Morgan Stanley lifted their target price on Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, August 25th. Finally, TheStreet upgraded Rogers Communication from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $61.00.
Rogers Communication, Inc. (RCI) traded up $0.61 on Wednesday, hitting $52.98. The stock had a trading volume of 271,600 shares, compared to its average volume of 309,374. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.41 and a quick ratio of 0.38. Rogers Communication, Inc. has a twelve month low of $37.57 and a twelve month high of $54.24. The firm has a market capitalization of $26,960.60, a PE ratio of 20.70, a P/E/G ratio of 3.85 and a beta of 0.93.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.19). Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. equities research analysts forecast that Rogers Communication, Inc. will post 2.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, December 8th. Rogers Communication’s dividend payout ratio is currently 81.48%.
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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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