MQS Management LLC Purchases Shares of 14,473 Rogers Communication, Inc. $RCI

MQS Management LLC purchased a new position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,473 shares of the Wireless communications provider’s stock, valued at approximately $429,000.

Several other hedge funds also recently made changes to their positions in the business. TD Private Client Wealth LLC grew its stake in shares of Rogers Communication by 6.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 5,461 shares of the Wireless communications provider’s stock worth $162,000 after acquiring an additional 330 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Rogers Communication by 885.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider’s stock worth $25,000 after acquiring an additional 850 shares in the last quarter. A&I Financial Services LLC grew its stake in shares of Rogers Communication by 6.6% during the 2nd quarter. A&I Financial Services LLC now owns 20,928 shares of the Wireless communications provider’s stock worth $621,000 after acquiring an additional 1,291 shares in the last quarter. CWM LLC grew its stake in shares of Rogers Communication by 57.4% during the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock worth $100,000 after acquiring an additional 1,363 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd grew its stake in shares of Rogers Communication by 1.4% during 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 acquiring an additional 1,386 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Rogers Communication Price Performance

NYSE:RCI opened at $39.33 on Friday. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $39.37. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. The firm has a fifty day simple moving average of $35.88 and a 200 day simple moving average of $31.30. The stock has a market capitalization of $21.24 billion, a PE ratio of 4.37, a P/E/G ratio of 3.16 and a beta of 0.78.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. Rogers Communication had a return on equity of 20.76% and a net margin of 32.49%.The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the firm posted $1.42 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Company Profile

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.