Greystone Managed Investments Inc. Cuts Holdings in Rogers Communication, Inc. (RCI)
Greystone Managed Investments Inc. trimmed its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 748,878 shares of the Wireless communications provider’s stock after selling 106,587 shares during the quarter. Rogers Communication makes up approximately 1.7% of Greystone Managed Investments Inc.’s holdings, making the stock its 18th largest position. Greystone Managed Investments Inc. owned 0.15% of Rogers Communication worth $38,526,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. NGAM Advisors L.P. boosted its position in Rogers Communication by 0.3% during the 2nd quarter. NGAM Advisors L.P. now owns 25,788 shares of the Wireless communications provider’s stock valued at $1,217,000 after acquiring an additional 81 shares in the last quarter. Creative Planning boosted its position in Rogers Communication by 7.8% during the 2nd quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock valued at $113,000 after acquiring an additional 173 shares in the last quarter. AXA boosted its position in Rogers Communication by 1.8% during the 2nd quarter. AXA now owns 27,848 shares of the Wireless communications provider’s stock valued at $1,315,000 after acquiring an additional 500 shares in the last quarter. US Bancorp DE boosted its position in Rogers Communication by 14.6% during the 2nd quarter. US Bancorp DE now owns 3,930 shares of the Wireless communications provider’s stock valued at $185,000 after acquiring an additional 501 shares in the last quarter. Finally, Everett Harris & Co. CA boosted its position in Rogers Communication by 1.8% during the 2nd quarter. Everett Harris & Co. CA now owns 31,845 shares of the Wireless communications provider’s stock valued at $1,503,000 after acquiring an additional 565 shares in the last quarter. 46.93% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on RCI shares. Morgan Stanley lifted their price objective on Rogers Communication from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, August 25th. Zacks Investment Research cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Barclays PLC boosted their price target on Rogers Communication from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Finally, TheStreet raised Rogers Communication from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $61.80.
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Shares of Rogers Communication, Inc. (NYSE RCI) traded up $0.27 on Monday, hitting $53.65. The stock had a trading volume of 263,000 shares, compared to its average volume of 308,396. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.38 and a current ratio of 0.41. Rogers Communication, Inc. has a 12-month low of $37.81 and a 12-month high of $54.24. The company has a market cap of $27,619.56, a PE ratio of 21.21, a P/E/G ratio of 3.94 and a beta of 0.93.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.19). Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. sell-side analysts forecast that Rogers Communication, Inc. will post 2.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.58%. Rogers Communication’s dividend payout ratio is currently 81.48%.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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