Rogers Communications Inc. (NYSE:RCI) Shares Sold by Earnest Partners LLC

Earnest Partners LLC cut its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.6% in the second quarter, HoldingsChannel reports. The fund owned 1,278,713 shares of the Wireless communications provider’s stock after selling 8,167 shares during the period. Earnest Partners LLC’s holdings in Rogers Communications were worth $68,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. M&T Bank Corp raised its stake in shares of Rogers Communications by 0.6% during the 2nd quarter. M&T Bank Corp now owns 41,438 shares of the Wireless communications provider’s stock worth $2,218,000 after buying an additional 247 shares during the period. Nordea Investment Management AB raised its stake in shares of Rogers Communications by 26.2% during the 1st quarter. Nordea Investment Management AB now owns 2,062,995 shares of the Wireless communications provider’s stock worth $148,265,000 after buying an additional 428,700 shares during the period. PCJ Investment Counsel Ltd. raised its stake in shares of Rogers Communications by 30.6% during the 1st quarter. PCJ Investment Counsel Ltd. now owns 506,500 shares of the Wireless communications provider’s stock worth $27,248,000 after buying an additional 118,530 shares during the period. Tobam raised its stake in shares of Rogers Communications by 92.0% during the 2nd quarter. Tobam now owns 83,952 shares of the Wireless communications provider’s stock worth $4,504,000 after buying an additional 40,232 shares during the period. Finally, K.J. Harrison & Partners Inc raised its stake in shares of Rogers Communications by 15.5% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 67,148 shares of the Wireless communications provider’s stock worth $3,594,000 after buying an additional 9,000 shares during the period. 51.24% of the stock is owned by institutional investors.

Shares of RCI opened at $50.86 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.71 and a current ratio of 0.79. Rogers Communications Inc. has a one year low of $48.56 and a one year high of $55.93. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 2.98 and a beta of 0.55. The stock has a 50 day moving average price of $50.95 and a 200 day moving average price of $52.40.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Tuesday, July 23rd. The Wireless communications provider reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.02). Rogers Communications had a return on equity of 26.66% and a net margin of 13.79%. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts predict that Rogers Communications Inc. will post 3.39 earnings per share for the current year.

Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Rogers Communications from a “buy” rating to a “hold” rating and set a $56.00 target price for the company. in a research note on Friday, July 26th. ValuEngine downgraded Rogers Communications from a “hold” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. downgraded Rogers Communications from a “neutral” rating to an “underweight” rating in a research note on Monday, July 8th. Echelon Wealth Partners raised Rogers Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets dropped their price target on Rogers Communications from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $60.18.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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