Ajo LP grew its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 23.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,695 shares of the Wireless communications provider’s stock after purchasing an additional 19,840 shares during the quarter. Ajo LP’s holdings in Rogers Communication were worth $4,943,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of RCI. FMR LLC increased its holdings in shares of Rogers Communication by 10.2% during the 1st quarter. FMR LLC now owns 27,559,525 shares of the Wireless communications provider’s stock valued at $1,218,560,000 after purchasing an additional 2,546,782 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Rogers Communication by 41.3% in the 2nd quarter. CIBC Asset Management Inc now owns 4,493,734 shares of the Wireless communications provider’s stock worth $212,001,000 after acquiring an additional 1,314,087 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in Rogers Communication in the 2nd quarter worth $21,915,000. Vanguard Group Inc. increased its holdings in Rogers Communication by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 7,799,123 shares of the Wireless communications provider’s stock worth $344,877,000 after acquiring an additional 343,169 shares in the last quarter. Finally, Greystone Managed Investments Inc. increased its holdings in Rogers Communication by 65.1% in the 2nd quarter. Greystone Managed Investments Inc. now owns 855,465 shares of the Wireless communications provider’s stock worth $40,347,000 after acquiring an additional 337,328 shares in the last quarter. 47.55% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on RCI. BidaskClub raised shares of Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Wednesday, July 12th. Finally, Morgan Stanley boosted their price target on shares of Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, August 25th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.43.
Shares of Rogers Communication, Inc. (NYSE:RCI) opened at 51.76 on Friday. The stock has a market cap of $26.65 billion, a price-to-earnings ratio of 32.66 and a beta of 0.86. Rogers Communication, Inc. has a 12-month low of $37.03 and a 12-month high of $53.55. The stock’s 50 day moving average is $51.69 and its 200-day moving average is $47.36.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts anticipate that Rogers Communication, Inc. will post $2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Thursday, September 14th. Rogers Communication’s dividend payout ratio is currently 102.03%.
About Rogers Communication
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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