NN Investment Partners Holdings N.V. reduced its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 81.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,997 shares of the Wireless communications provider’s stock after selling 274,169 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Rogers Communications were worth $3,187,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Chicago Capital LLC acquired a new stake in shares of Rogers Communications during the 2nd quarter valued at about $239,000. Cozad Asset Management Inc. acquired a new stake in shares of Rogers Communications during the 2nd quarter valued at about $267,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Rogers Communications during the 2nd quarter valued at about $287,000. Schroder Investment Management Group acquired a new position in Rogers Communications in the second quarter valued at about $337,000. Finally, San Francisco Sentry Investment Group CA acquired a new position in Rogers Communications in the second quarter valued at about $403,000. Institutional investors and hedge funds own 46.12% of the company’s stock.
A number of research firms have commented on RCI. Zacks Investment Research upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Wednesday, September 19th. Desjardins lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Barclays reduced their price target on shares of Rogers Communications from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, July 20th. Finally, ValuEngine upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.00.
NYSE:RCI opened at $50.87 on Monday. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 3.14 and a beta of 0.72. Rogers Communications Inc. has a 12 month low of $43.11 and a 12 month high of $54.95. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.05. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.91 billion. Rogers Communications had a net margin of 13.34% and a return on equity of 29.37%. Research analysts predict that Rogers Communications Inc. will post 3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 11th will be given a $0.3695 dividend. The ex-dividend date of this dividend is Monday, December 10th. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.48 dividend on an annualized basis and a yield of 2.91%. Rogers Communications’s payout ratio is 54.24%.
Rogers Communications Company Profile
Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.
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