Korea Investment CORP grew its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 11.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 190,058 shares of the Wireless communications provider’s stock after purchasing an additional 19,542 shares during the period. Korea Investment CORP’s holdings in Rogers Communication were worth $9,778,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in RCI. Creative Planning lifted its holdings in shares of Rogers Communication by 7.8% during the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock valued at $113,000 after purchasing an additional 173 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Rogers Communication by 14.6% during the second quarter. US Bancorp DE now owns 3,930 shares of the Wireless communications provider’s stock valued at $185,000 after purchasing an additional 501 shares during the last quarter. Wetherby Asset Management Inc. purchased a new position in shares of Rogers Communication during the second quarter valued at approximately $203,000. Institute for Wealth Management LLC. purchased a new position in shares of Rogers Communication during the second quarter valued at approximately $271,000. Finally, Paloma Partners Management Co purchased a new position in shares of Rogers Communication during the first quarter valued at approximately $288,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.
Rogers Communication, Inc. (NYSE RCI) opened at 51.90 on Wednesday. Rogers Communication, Inc. has a one year low of $37.03 and a one year high of $54.24. The company has a 50-day moving average of $52.37 and a 200-day moving average of $49.55. The stock has a market capitalization of $26.72 billion, a price-to-earnings ratio of 31.38 and a beta of 0.86.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.19). The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. On average, equities analysts forecast that Rogers Communication, Inc. will post $2.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, December 8th. This represents a $1.92 annualized dividend and a dividend yield of 3.70%. Rogers Communication’s dividend payout ratio (DPR) is presently 81.48%.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, October 24th. TheStreet upgraded shares of Rogers Communication from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Barclays PLC lifted their target price on shares of Rogers Communication from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Morgan Stanley lifted their target price on shares of Rogers Communication from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, August 25th. Finally, BidaskClub upgraded shares of Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.00.
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Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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