Baskin Financial Services Inc. cut its holdings in Rogers Communications Inc. Class B (NYSE:RCI) (TSE:RCI.B) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 314,963 shares of the Wireless communications provider’s stock after selling 2,889 shares during the period. Rogers Communications Inc. Class B comprises 2.8% of Baskin Financial Services Inc.’s holdings, making the stock its 15th biggest position. Baskin Financial Services Inc.’s holdings in Rogers Communications Inc. Class B were worth $14,962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. lifted its stake in Rogers Communications Inc. Class B by 9.7% during the second quarter. Beutel Goodman & Co Ltd. now owns 21,014,591 shares of the Wireless communications provider’s stock worth $998,281,000 after purchasing an additional 1,854,605 shares in the last quarter. Toronto Dominion Bank lifted its stake in Rogers Communications Inc. Class B by 48.3% during the first quarter. Toronto Dominion Bank now owns 3,827,996 shares of the Wireless communications provider’s stock worth $171,183,000 after purchasing an additional 1,246,694 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Rogers Communications Inc. Class B by 24.8% during the first quarter. The Manufacturers Life Insurance Company now owns 5,739,271 shares of the Wireless communications provider’s stock worth $256,431,000 after purchasing an additional 1,142,286 shares in the last quarter. PCJ Investment Counsel Ltd. acquired a new position in Rogers Communications Inc. Class B during the first quarter worth $25,064,000. Finally, BlackRock Inc. lifted its stake in Rogers Communications Inc. Class B by 39.4% during the first quarter. BlackRock Inc. now owns 1,902,062 shares of the Wireless communications provider’s stock worth $84,984,000 after purchasing an additional 537,287 shares in the last quarter. Hedge funds and other institutional investors own 49.05% of the company’s stock.

RCI has been the topic of a number of research reports. Barclays decreased their price target on Rogers Communications Inc. Class B from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, July 20th. ValuEngine upgraded Rogers Communications Inc. Class B from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Zacks Investment Research cut Rogers Communications Inc. Class B from a “hold” rating to a “sell” rating in a research note on Thursday, April 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $61.00.

Shares of Rogers Communications Inc. Class B opened at $51.19 on Tuesday, according to MarketBeat. The firm has a market capitalization of $26.39 billion, a PE ratio of 18.89, a P/E/G ratio of 3.28 and a beta of 0.85. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.60 and a current ratio of 0.67. Rogers Communications Inc. Class B has a 12-month low of $43.11 and a 12-month high of $54.95.

Rogers Communications Inc. Class B (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, July 19th. The Wireless communications provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.28. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Rogers Communications Inc. Class B had a return on equity of 29.52% and a net margin of 12.66%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.96 earnings per share. analysts anticipate that Rogers Communications Inc. Class B will post 3.13 earnings per share for the current year.

Rogers Communications Inc. Class B Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for Rogers Communications Inc. Class B (NYSE:RCI)

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