QV Investors Inc. Buys New Stake in Rogers Communication, Inc. $RCI

QV Investors Inc. bought a new stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the second quarter, according to its most recent filing with the SEC. The firm bought 589,161 shares of the Wireless communications provider’s stock, valued at approximately $17,440,000. Rogers Communication comprises 1.7% of QV Investors Inc.’s holdings, making the stock its 19th biggest holding. QV Investors Inc. owned approximately 0.11% of Rogers Communication at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TD Private Client Wealth LLC grew its stake in Rogers Communication by 6.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 5,461 shares of the Wireless communications provider’s stock valued at $162,000 after buying an additional 330 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Rogers Communication by 885.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider’s stock worth $25,000 after purchasing an additional 850 shares during the last quarter. A&I Financial Services LLC grew its position in Rogers Communication by 6.6% in the 2nd quarter. A&I Financial Services LLC now owns 20,928 shares of the Wireless communications provider’s stock worth $621,000 after purchasing an additional 1,291 shares during the last quarter. CWM LLC grew its position in Rogers Communication by 57.4% in the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock worth $100,000 after purchasing an additional 1,363 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd grew its position in Rogers Communication by 1.4% in the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 103,931 shares of the Wireless communications provider’s stock worth $3,068,000 after purchasing an additional 1,386 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on RCI. Cowen restated a “buy” rating on shares of Rogers Communication in a research report on Friday. BMO Capital Markets restated an “outperform” rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Barclays raised their price target on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rogers Communication in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.00.

Rogers Communication Price Performance

NYSE:RCI opened at $39.33 on Friday. The company has a 50-day moving average of $35.88 and a 200-day moving average of $31.30. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 4.37, a PEG ratio of 3.16 and a beta of 0.78. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $39.37. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 23rd. The Wireless communications provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $5.33 billion. Rogers Communication had a net margin of 32.49% and a return on equity of 20.76%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.42 EPS. As a group, equities research analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

About Rogers Communication

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.