Millennium Management LLC Reduces Holdings in Rogers Communications Inc. (NYSE:RCI)

Millennium Management LLC decreased its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 73.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 86,389 shares of the Wireless communications provider’s stock after selling 234,035 shares during the period. Millennium Management LLC’s holdings in Rogers Communications were worth $4,591,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of Rogers Communications by 14.0% in the 2nd quarter. Bank of Montreal Can now owns 25,309,328 shares of the Wireless communications provider’s stock worth $1,345,697,000 after purchasing an additional 3,103,785 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Rogers Communications by 12.6% in the 2nd quarter. Mackenzie Financial Corp now owns 7,688,892 shares of the Wireless communications provider’s stock worth $408,364,000 after purchasing an additional 861,675 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Rogers Communications by 2.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,517,049 shares of the Wireless communications provider’s stock worth $397,485,000 after purchasing an additional 152,904 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Rogers Communications by 5.0% in the 2nd quarter. Toronto Dominion Bank now owns 5,047,630 shares of the Wireless communications provider’s stock worth $280,407,000 after purchasing an additional 240,618 shares during the last quarter. Finally, FMR LLC increased its position in shares of Rogers Communications by 3.4% in the 2nd quarter. FMR LLC now owns 3,929,768 shares of the Wireless communications provider’s stock worth $208,905,000 after purchasing an additional 127,953 shares during the last quarter. 43.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:RCI opened at $46.75 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.78 and a debt-to-equity ratio of 1.44. The firm has a 50-day simple moving average of $47.41 and a 200 day simple moving average of $49.96. The company has a market cap of $23.61 billion, a PE ratio of 18.93, a P/E/G ratio of 2.33 and a beta of 0.47. Rogers Communications Inc. has a fifty-two week low of $43.18 and a fifty-two week high of $53.90.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, October 20th. The Wireless communications provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.21. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. Rogers Communications had a net margin of 11.09% and a return on equity of 18.12%. Rogers Communications’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 EPS. As a group, research analysts forecast that Rogers Communications Inc. will post 2.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 4th. Shareholders of record on Friday, December 10th will be paid a dividend of $0.4059 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.47%. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, December 9th. Rogers Communications’s payout ratio is presently 64.37%.

RCI has been the subject of several research analyst reports. BMO Capital Markets boosted their target price on shares of Rogers Communications from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a research report on Friday, October 22nd. Royal Bank of Canada downgraded shares of Rogers Communications from an “outperform” rating to a “sector perform” rating in a research report on Monday, October 25th. TD Securities dropped their target price on shares of Rogers Communications from C$72.00 to C$70.00 and set a “buy” rating for the company in a research report on Thursday, November 18th. Desjardins downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating and set a $69.00 price objective for the company. in a research report on Tuesday, October 26th. Finally, National Bank Financial lowered their price objective on shares of Rogers Communications from C$75.00 to C$69.00 and set an “outperform” rating for the company in a research report on Tuesday, October 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $69.33.

Rogers Communications Profile

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 and accessory financing, wireless home phone, device protection, text messaging, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 10.9 million subscribers.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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