Rogers Communication, Inc. $RCI Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 8.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,893,422 shares of the Wireless communications provider’s stock after buying an additional 299,794 shares during the period. Geode Capital Management LLC’s holdings in Rogers Communication were worth $153,723,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its holdings 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 buying an additional 282,609 shares during the period. Bank of Nova Scotia boosted its holdings in shares of Rogers Communication by 2.3% in the 3rd 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 boosted its holdings in shares of Rogers Communication by 18.0% in the 3rd 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 boosted its holdings in shares of Rogers Communication by 7.0% in the 3rd 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 during the period. Finally, Bank of America Corp DE boosted its stake in Rogers Communication by 67.8% during the 3rd 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 purchasing an additional 1,966,476 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on RCI. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Desjardins reissued a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Trading Down 1.0%

Rogers Communication stock opened at $37.82 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average price of $36.09 and a two-hundred day moving average price of $37.23. The firm has a market capitalization of $20.43 billion, a price-to-earnings ratio of 3.99, a PEG ratio of 3.36 and a beta of 0.62. Rogers Communication, Inc. has a 52-week low of $26.30 and a 52-week high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. Rogers Communication’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Sell-side analysts expect that Rogers Communication, Inc. will post 3.55 earnings per share for the current year.

Rogers Communication Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 9th. Rogers Communication’s payout ratio is 15.51%.

Rogers Communication Profile

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.