Rogers Communication, Inc. $RCI Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 112.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 335,459 shares of the Wireless communications provider’s stock after purchasing an additional 177,457 shares during the quarter. Northern Trust Corp owned approximately 0.06% of Rogers Communication worth $8,967,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RCI. Ameriprise Financial Inc. boosted its holdings in Rogers Communication by 23.3% in the fourth quarter. Ameriprise Financial Inc. now owns 55,041 shares of the Wireless communications provider’s stock worth $1,812,000 after purchasing an additional 10,405 shares during the period. BNP Paribas Financial Markets boosted its holdings in Rogers Communication by 224.5% in the fourth quarter. BNP Paribas Financial Markets now owns 121,483 shares of the Wireless communications provider’s stock worth $3,733,000 after purchasing an additional 84,047 shares during the period. Deutsche Bank AG boosted its holdings in Rogers Communication by 3.7% in the fourth quarter. Deutsche Bank AG now owns 552,776 shares of the Wireless communications provider’s stock worth $16,987,000 after purchasing an additional 19,860 shares during the period. Graham Capital Management L.P. boosted its holdings in Rogers Communication by 78.2% in the fourth quarter. Graham Capital Management L.P. now owns 50,395 shares of the Wireless communications provider’s stock worth $1,549,000 after purchasing an additional 22,110 shares during the period. Finally, Gotham Asset Management LLC boosted its holdings in Rogers Communication by 210.8% in the fourth quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider’s stock worth $944,000 after purchasing an additional 20,833 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Performance

RCI stock opened at $35.84 on Friday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70. The stock has a market capitalization of $19.28 billion, a price-to-earnings 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. The stock’s fifty day moving average is $33.99 and its two-hundred day moving average is $29.18.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period last year, the business posted $1.16 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research 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. Investors of record on Monday, September 8th will be paid a dividend of $0.3672 per share. This is an increase from Rogers Communication’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is presently 71.64%.

Analyst Ratings Changes

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

Rogers Communication Profile

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.