Rogers Communications Inc. (RCI) Shares Bought by Fort L.P.
Fort L.P. raised its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1,080.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,133 shares of the Wireless communications provider’s stock after buying an additional 7,444 shares during the period. Fort L.P.’s holdings in Rogers Communications were worth $417,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Lindbrook Capital LLC acquired a new position in shares of Rogers Communications in the 4th quarter worth approximately $32,000. We Are One Seven LLC acquired a new position in shares of Rogers Communications in the 4th quarter worth approximately $37,000. Enlightenment Research LLC acquired a new position in shares of Rogers Communications in the 4th quarter worth approximately $46,000. Van ECK Associates Corp acquired a new position in shares of Rogers Communications in the 4th quarter worth approximately $72,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Rogers Communications by 157.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,710 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 1,047 shares during the last quarter. 44.67% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. Echelon Wealth Partners reaffirmed a “buy” rating on shares of Rogers Communications in a research note on Friday, January 25th. Zacks Investment Research raised shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, February 8th. Finally, ValuEngine cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Rogers Communications currently has a consensus rating of “Hold” and a consensus target price of $54.68.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, January 24th. The Wireless communications provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.32. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Rogers Communications had a net margin of 13.63% and a return on equity of 29.05%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, research analysts forecast that Rogers Communications Inc. will post 3.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th will be given a $0.3762 dividend. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.50 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, March 11th. Rogers Communications’s dividend payout ratio (DPR) is 45.37%.
About Rogers Communications
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.
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