Rogers Communication, Inc. $RCI Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,886,365 shares of the Wireless communications provider’s stock after buying an additional 282,609 shares during the period. Arrowstreet Capital Limited Partnership owned 1.83% of Rogers Communication worth $340,428,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RCI. Headlands Technologies LLC boosted its stake in shares of Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after acquiring an additional 978 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Rogers Communication by 106.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 1,005 shares during the last quarter. MAI Capital Management lifted its holdings in Rogers Communication by 30.5% in the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 458 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 683 shares in the last quarter. Finally, Tobam boosted its stake in Rogers Communication by 148.6% during the 2nd quarter. Tobam now owns 4,005 shares of the Wireless communications provider’s stock worth $119,000 after purchasing an additional 2,394 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of recent research reports. Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. Barclays reaffirmed a “positive” rating and set a $37.00 price objective on shares of Rogers Communication in a research note on Tuesday, January 27th. TD Cowen reissued a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Finally, Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Trading Down 1.9%

Shares of RCI stock opened at $38.72 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $41.14. The company’s 50-day moving average price is $37.89 and its 200-day moving average price is $37.27. The stock has a market cap of $20.91 billion, a price-to-earnings ratio of 4.19, a PEG ratio of 5.22 and a beta of 0.74.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the business earned $1.46 earnings per share. Rogers Communication’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. Rogers Communication’s dividend payout ratio (DPR) is currently 15.89%.

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.