Mirabella Financial Services LLP Takes Position in Rogers Communication, Inc. $RCI

Mirabella Financial Services LLP acquired a new stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 60,722 shares of the Wireless communications provider’s stock, valued at approximately $2,090,000.

A number of other institutional investors also recently bought and sold shares of RCI. FNY Investment Advisers LLC acquired a new position in Rogers Communication during the 3rd quarter valued at approximately $58,000. CIBC Bancorp USA Inc. purchased a new position in shares of Rogers Communication in the third quarter worth $280,000. Achmea Investment Management B.V. acquired a new stake in shares of Rogers Communication during the third quarter worth $1,737,000. Danske Bank A S acquired a new stake in shares of Rogers Communication during the third quarter worth $64,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Rogers Communication during the third quarter valued at $63,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communication Trading Down 1.1%

Shares of Rogers Communication stock opened at $39.02 on Thursday. The stock has a market cap of $21.08 billion, a PE ratio of 4.22, a price-to-earnings-growth ratio of 5.22 and a beta of 0.74. The firm has a fifty day moving average price of $38.02 and a 200 day moving average price of $37.37. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. Equities research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.1%. Rogers Communication’s dividend payout ratio is presently 15.89%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RCI shares. TD Securities reissued a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Barclays reiterated a “positive” rating and set a $37.00 price target on shares of Rogers Communication in a research note on Tuesday, January 27th. Desjardins cut Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen downgraded Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.