Forsta AP Fonden Acquires 24,000 Shares of Rogers Communication, Inc. $RCI

Forsta AP Fonden lifted its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 30.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,100 shares of the Wireless communications provider’s stock after buying an additional 24,000 shares during the quarter. Forsta AP Fonden’s holdings in Rogers Communication were worth $3,022,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. boosted its stake in Rogers Communication by 106.2% during the second quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock worth $58,000 after acquiring an additional 1,005 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in shares of Rogers Communication by 13.3% during the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,003,712 shares of the Wireless communications provider’s stock valued at $59,469,000 after purchasing an additional 234,764 shares during the last quarter. Aviva PLC boosted its position in shares of Rogers Communication by 6.6% in the 2nd quarter. Aviva PLC now owns 253,736 shares of the Wireless communications provider’s stock worth $7,525,000 after purchasing an additional 15,753 shares in the last quarter. AGF Management Ltd. grew its stake in shares of Rogers Communication by 28.1% in the 2nd quarter. AGF Management Ltd. now owns 1,800,421 shares of the Wireless communications provider’s stock worth $53,400,000 after buying an additional 394,848 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Rogers Communication during the 2nd quarter valued at approximately $443,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Performance

Shares of RCI stock opened at $38.38 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 1.55. The company has a 50 day moving average price of $36.75 and a 200-day moving average price of $32.75. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $40.26. The firm has a market capitalization of $20.74 billion, a PE ratio of 4.26, a P/E/G ratio of 3.29 and a beta of 0.81.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. Rogers Communication had a net margin of 32.49% and a return on equity of 17.14%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the firm earned $1.42 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RCI shares. Barclays boosted their target price on Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Rogers Communication in a research note on Friday, October 24th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.00.

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.