Vanguard Group Inc. Acquires 747,064 Shares of Rogers Communication Inc. (RCI)
Vanguard Group Inc. raised its stake in Rogers Communication Inc. (NYSE:RCI) by 12.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,954,480 shares of the company’s stock after buying an additional 747,064 shares during the period. Vanguard Group Inc. owned about 1.35% of Rogers Communication worth $280,960,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Rogers Communication by 11.8% in the first quarter. Royal Bank of Canada now owns 36,359,454 shares of the company’s stock valued at $1,455,104,000 after buying an additional 3,848,069 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its position in shares of Rogers Communication by 4.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 23,399,933 shares of the company’s stock valued at $940,746,000 after buying an additional 1,077,355 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Rogers Communication by 1.7% in the second quarter. TD Asset Management Inc. now owns 14,736,144 shares of the company’s stock valued at $593,389,000 after buying an additional 242,250 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Rogers Communication by 25.1% in the first quarter. 1832 Asset Management L.P. now owns 8,826,369 shares of the company’s stock valued at $555,237,000 after buying an additional 1,772,938 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Rogers Communication by 33.8% in the second quarter. CIBC Asset Management Inc now owns 3,757,964 shares of the company’s stock valued at $151,291,000 after buying an additional 948,316 shares in the last quarter. 49.28% of the stock is currently owned by institutional investors.
Rogers Communication Inc. (NYSE:RCI) opened at 41.37 on Tuesday. The stock has a market capitalization of $21.30 billion, a P/E ratio of 20.10 and a beta of 0.87. The company’s 50-day moving average is $42.61 and its 200-day moving average is $40.87. Rogers Communication Inc. has a 12 month low of $32.50 and a 12 month high of $45.50.
Rogers Communication (NYSE:RCI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.47 billion. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. Equities analysts anticipate that Rogers Communication Inc. will post $2.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were given a dividend of $0.48 per share. This is an increase from Rogers Communication’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.92 annualized dividend and a yield of 4.64%. Rogers Communication’s dividend payout ratio is 71.36%.
Several equities analysts have recently issued reports on RCI shares. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Wednesday, September 21st. TD Securities reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Rogers Communication in a research note on Wednesday, July 6th. Bank of America Corp. started coverage on shares of Rogers Communication in a research note on Tuesday, July 5th. They issued a “neutral” rating on the stock. TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a research note on Tuesday, July 19th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Rogers Communication currently has a consensus rating of “Buy” and a consensus price target of C$49.56.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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