Marshall Wace North America L.P. increased its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 728.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,453 shares of the Wireless communications provider’s stock after purchasing an additional 25,897 shares during the period. Marshall Wace North America L.P.’s holdings in Rogers Communications were worth $1,464,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TRUE Private Wealth Advisors bought a new stake in shares of Rogers Communications in the 4th quarter worth approximately $27,000. IFP Advisors Inc lifted its holdings in shares of Rogers Communications by 68.7% in the 4th quarter. IFP Advisors Inc now owns 668 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 272 shares during the last quarter. Allred Capital Management LLC bought a new stake in shares of Rogers Communications in the 4th quarter worth approximately $39,000. Bessemer Group Inc. lifted its holdings in shares of Rogers Communications by 4,503.7% in the 4th quarter. Bessemer Group Inc. now owns 1,243 shares of the Wireless communications provider’s stock worth $62,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in Rogers Communications during the 4th quarter valued at $83,000. 42.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rogers Communications stock opened at $38.59 on Thursday. The business’s fifty day moving average price is $45.96 and its two-hundred day moving average price is $48.18. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.86 and a quick ratio of 0.78. The company has a market capitalization of $18.62 billion, a P/E ratio of 12.86, a PEG ratio of 2.34 and a beta of 0.55. Rogers Communications Inc. has a 1-year low of $32.20 and a 1-year high of $54.82.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, January 22nd. The Wireless communications provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.22. Rogers Communications had a return on equity of 23.66% and a net margin of 13.55%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. On average, research analysts expect that Rogers Communications Inc. will post 3.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Monday, March 9th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.38. Rogers Communications’s payout ratio is currently 47.92%.
Several brokerages have weighed in on RCI. CIBC reaffirmed a “hold” rating and set a $68.00 target price on shares of Rogers Communications in a research note on Thursday, January 23rd. UBS Group reaffirmed a “hold” rating and set a $67.00 target price on shares of Rogers Communications in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $66.00 target price (down previously from $72.00) on shares of Rogers Communications in a research note on Wednesday, March 18th. Finally, Canaccord Genuity raised Rogers Communications from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $64.83.
Rogers Communications 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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