Rogers Communication, Inc. $RCI Holdings Raised by Northern Trust Corp

Northern Trust Corp lifted its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 112.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 335,459 shares of the Wireless communications provider’s stock after purchasing an additional 177,457 shares during the quarter. Northern Trust Corp’s holdings in Rogers Communication were worth $8,967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. raised its stake in shares of Rogers Communication by 885.4% during the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider’s stock valued at $25,000 after purchasing an additional 850 shares in the last quarter. Versant Capital Management Inc acquired a new position in Rogers Communication during the first quarter worth about $79,000. CWM LLC grew its holdings in Rogers Communication by 57.4% during the first 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 during the period. TD Private Client Wealth LLC grew its holdings in Rogers Communication by 263.1% during the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider’s stock worth $137,000 after acquiring an additional 3,718 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Rogers Communication during the first quarter worth about $200,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Price Performance

NYSE RCI opened at $35.84 on Friday. The stock’s 50-day moving average price is $33.99 and its two-hundred day moving average price is $29.18. 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 company has a market cap of $19.28 billion, a PE ratio of 17.83, a PEG ratio of 2.32 and a beta of 0.79. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.84.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. On average, analysts predict that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be issued a dividend of $0.3672 per share. This represents a $1.47 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, September 8th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.36. Rogers Communication’s dividend payout ratio is presently 71.64%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a report on Tuesday, July 15th. Finally, Barclays lifted their target price on Rogers Communication from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $59.00.

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.