Mirabella Financial Services LLP Purchases Shares of 60,722 Rogers Communication, Inc. $RCI

Mirabella Financial Services LLP acquired a new position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the 3rd quarter, HoldingsChannel reports. The fund acquired 60,722 shares of the Wireless communications provider’s stock, valued at approximately $2,090,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in shares of Rogers Communication by 2.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider’s stock valued at $340,428,000 after purchasing an additional 282,609 shares during the period. Bank of Nova Scotia grew its position in Rogers Communication by 2.3% during the third quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider’s stock valued at $291,526,000 after buying an additional 186,510 shares during the period. TD Asset Management Inc grew its position in Rogers Communication by 18.0% during the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock valued at $287,340,000 after buying an additional 1,272,065 shares during the period. Mackenzie Financial Corp increased its holdings in Rogers Communication by 7.0% in the third quarter. Mackenzie Financial Corp now owns 8,161,532 shares of the Wireless communications provider’s stock valued at $280,904,000 after buying an additional 536,623 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Rogers Communication by 67.8% in the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after buying an additional 1,966,476 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Down 1.1%

RCI stock opened at $39.02 on Thursday. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.14. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. The firm has a 50-day simple moving average of $38.02 and a 200-day simple moving average of $37.37. The stock has a market capitalization of $21.08 billion, a P/E ratio of 4.22, a P/E/G ratio of 5.22 and a beta of 0.74.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period last year, the company posted $1.46 EPS. Rogers Communication’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.1%. Rogers Communication’s dividend payout ratio is presently 15.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RCI shares. TD Cowen reissued a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Wall Street Zen lowered Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley reiterated an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a report on Monday, January 12th. Finally, TD Securities restated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.