Sequoia Financial Advisors LLC Makes New Investment in Rogers Communication, Inc. $RCI

Sequoia Financial Advisors LLC bought a new position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 11,058 shares of the Wireless communications provider’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCI. Goldman Sachs Group Inc. grew its holdings in Rogers Communication by 303.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider’s stock worth $148,047,000 after acquiring an additional 4,166,861 shares in the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Rogers Communication in the 2nd quarter valued at about $77,687,000. Canada Pension Plan Investment Board boosted its holdings in shares of Rogers Communication by 373.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider’s stock valued at $76,671,000 after buying an additional 2,263,859 shares in the last quarter. Value Partners Investments Inc. boosted its holdings in shares of Rogers Communication by 1,252.8% in the 1st quarter. Value Partners Investments Inc. now owns 2,312,136 shares of the Wireless communications provider’s stock valued at $61,808,000 after buying an additional 2,141,227 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Rogers Communication by 380.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,348,091 shares of the Wireless communications provider’s stock valued at $62,717,000 after buying an additional 1,859,288 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Stock Up 1.1%

RCI stock opened at $37.01 on Wednesday. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $39.33. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $19.99 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.94 and a beta of 0.78. The firm has a 50 day moving average of $35.68 and a 200 day moving average of $31.00.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same period last year, the firm posted $1.16 EPS. Rogers Communication’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RCI. Weiss Ratings restated a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. BMO Capital Markets restated an “outperform” rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Barclays raised their price target on shares of Rogers Communication from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Finally, Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.

About Rogers Communication

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.