Ontario Teachers Pension Plan Board lowered its position in shares of Rogers Communications Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) by 39.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,660 shares of the Wireless communications provider’s stock after selling 16,219 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Rogers Communications were worth $1,143,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ridgewood Investments LLC purchased a new position in Rogers Communications during the first quarter worth approximately $28,000. Fifth Third Bancorp boosted its holdings in Rogers Communications by 1,059.4% in the first quarter. Fifth Third Bancorp now owns 800 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 731 shares during the period. ING Groep NV bought a new stake in shares of Rogers Communications during the 1st quarter valued at about $50,000. CVA Family Office LLC acquired a new stake in shares of Rogers Communications during the 4th quarter worth approximately $52,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Rogers Communications by 26.7% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,760 shares of the Wireless communications provider’s stock valued at $99,000 after acquiring an additional 371 shares during the period. Hedge funds and other institutional investors own 44.25% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. TheStreet downgraded shares of Rogers Communications from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $73.63.
Rogers Communications Stock Performance
Shares of RCI stock opened at $39.94 on Thursday. The firm has a market cap of $20.17 billion, a P/E ratio of 18.41, a PEG ratio of 1.26 and a beta of 0.52. The stock’s 50-day moving average is $42.75 and its two-hundred day moving average is $45.33. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.65 and a quick ratio of 0.60. Rogers Communications Inc. has a fifty-two week low of $36.23 and a fifty-two week high of $50.16.
Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, July 26th. The Wireless communications provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.08). The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.82 billion. Rogers Communications had a net margin of 8.92% and a return on equity of 19.81%. Analysts predict that Rogers Communications Inc. will post 3.2 earnings per share for the current fiscal year.
Rogers Communications Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 8th will be paid a dividend of $0.377 per share. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.51 annualized dividend and a yield of 3.78%. Rogers Communications’s dividend payout ratio is presently 67.74%.
Rogers Communications Profile
Rogers Communications Inc operates as a communications and media company in North America. 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 services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.
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