32,908 Rogers Communication, Inc. $RCI Shares Sold by Vest Financial LLC

Vest Financial LLC lessened its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 13.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 205,740 shares of the Wireless communications provider’s stock after selling 32,908 shares during the quarter. Vest Financial LLC’s holdings in Rogers Communication were worth $6,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Nykredit A S bought a new stake in Rogers Communication in the 2nd quarter valued at $1,847,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Rogers Communication by 277.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider’s stock valued at $12,208,000 after acquiring an additional 233,449 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Rogers Communication by 4.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider’s stock worth $38,117,000 after purchasing an additional 39,638 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Rogers Communication in the 2nd quarter worth approximately $1,395,000. Finally, Bank of New York Mellon Corp increased its position in Rogers Communication by 30.7% in the 1st quarter. Bank of New York Mellon Corp now owns 426,113 shares of the Wireless communications provider’s stock valued at $16,384,000 after acquiring an additional 100,162 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RCI has been the topic of several research reports. Raymond James Financial assumed coverage on Rogers Communication in a research note on Wednesday, July 15th. They set an “outperform” rating on the stock. Weiss Ratings downgraded Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Desjardins upgraded Rogers Communication from a “hold” rating to a “buy” rating in a report on Monday, September 14th. Barclays decreased their price target on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Finally, Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rogers Communication presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Rogers Communication Price Performance

Shares of NYSE RCI opened at $33.16 on Friday. Rogers Communication, Inc. has a 1-year low of $29.25 and a 1-year high of $41.14. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The firm has a market cap of $17.91 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 3.99 and a beta of 0.65. The business’s 50 day moving average is $34.09 and its 200-day moving average is $34.85.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Rogers Communication’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that Rogers Communication, Inc. will post 3.24 earnings per share for the current year.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.