Korea Investment CORP Purchases 56,100 Shares of Rogers Communication, Inc. $RCI

Korea Investment CORP boosted its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 65.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 141,845 shares of the Wireless communications provider’s stock after acquiring an additional 56,100 shares during the period. Korea Investment CORP’s holdings in Rogers Communication were worth $4,884,000 at the end of the most recent reporting period.

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

Rogers Communication Trading Down 1.9%

RCI opened at $38.72 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.14. The stock has a market cap of $20.91 billion, a PE ratio of 4.19, a PEG ratio of 5.22 and a beta of 0.74. The business has a 50 day moving average of $37.89 and a 200-day moving average of $37.27.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. Equities research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th will be given a $0.50 dividend. The ex-dividend date of this dividend 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 is currently 15.89%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. TD Securities reissued a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Barclays restated a “positive” rating and set a $37.00 target price on shares of Rogers Communication in a report on Tuesday, January 27th. TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Profile

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.