Geode Capital Management LLC grew its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,633,981 shares of the Wireless communications provider's stock after acquiring an additional 156,217 shares during the quarter. Geode Capital Management LLC owned 0.31% of Rogers Communications worth $66,176,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in RCI. Bank of New York Mellon Corp boosted its position in Rogers Communications by 39.1% in the second quarter. Bank of New York Mellon Corp now owns 571,923 shares of the Wireless communications provider's stock valued at $21,150,000 after buying an additional 160,768 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Rogers Communications during the 2nd quarter valued at $37,000. Tobam grew its position in Rogers Communications by 6.3% during the 2nd quarter. Tobam now owns 14,995 shares of the Wireless communications provider's stock worth $555,000 after acquiring an additional 891 shares during the last quarter. VAUGHAN & Co SECURITIES INC. increased its holdings in Rogers Communications by 15.7% in the 2nd quarter. VAUGHAN & Co SECURITIES INC. now owns 14,726 shares of the Wireless communications provider's stock worth $545,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Intact Investment Management Inc. raised its position in Rogers Communications by 33.8% in the second quarter. Intact Investment Management Inc. now owns 1,994,221 shares of the Wireless communications provider's stock valued at $73,752,000 after purchasing an additional 503,550 shares during the last quarter. Institutional investors own 45.49% of the company's stock.
A number of research analysts recently issued reports on RCI shares. BMO Capital Markets raised their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. TD Securities raised their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Finally, Morgan Stanley started coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an "underweight" rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $61.75.
Get Our Latest Stock Analysis on Rogers Communications
Rogers Communications stock opened at $30.75 on Friday. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.06 and a beta of 0.67. Rogers Communications Inc. has a 52-week low of $30.24 and a 52-week high of $48.19. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The firm has a 50 day moving average price of $35.82 and a two-hundred day moving average price of $37.80.
Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. Rogers Communications's quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. Equities analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 4.70%. Rogers Communications's payout ratio is 71.71%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Rogers Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rogers Communications wasn't on the list.
While Rogers Communications currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.