K.J. Harrison & Partners Inc raised its position in Rogers Communication Inc. (NYSE:RCI) by 60.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,817 shares of the company’s stock after buying an additional 22,150 shares during the period. Rogers Communication makes up approximately 1.3% of K.J. Harrison & Partners Inc’s holdings, making the stock its 21st largest position. K.J. Harrison & Partners Inc’s holdings in Rogers Communication were worth $2,365,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services Inc raised its position in shares of Rogers Communication by 17.1% in the first quarter. Commonwealth Equity Services Inc now owns 7,720 shares of the company’s stock worth $309,000 after buying an additional 1,128 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in shares of Rogers Communication during the first quarter worth $317,000. Aston Asset Management LLC raised its position in shares of Rogers Communication by 1.3% in the first quarter. Aston Asset Management LLC now owns 20,747 shares of the company’s stock worth $830,000 after buying an additional 257 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of Rogers Communication by 137.5% in the first quarter. Quadrature Capital Ltd now owns 20,900 shares of the company’s stock worth $835,000 after buying an additional 12,100 shares in the last quarter. Finally, Lombard Odier & Cie Canada Limited Partnership raised its position in shares of Rogers Communication by 1.9% in the first quarter. Lombard Odier & Cie Canada Limited Partnership now owns 21,200 shares of the company’s stock worth $851,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 49.28% of the company’s stock.
Rogers Communication Inc. (NYSE:RCI) traded up 0.88% on Wednesday, reaching $42.55. The company’s stock had a trading volume of 226,801 shares. The company has a market capitalization of $21.90 billion, a PE ratio of 20.59 and a beta of 0.93. The firm has a 50-day moving average of $43.48 and a 200-day moving average of $40.52. Rogers Communication Inc. has a one year low of $32.50 and a one year high of $45.50.
Rogers Communication (NYSE:RCI) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. Analysts predict that Rogers Communication Inc. will post $2.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Sunday, September 11th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.51%. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, September 7th. Rogers Communication’s payout ratio is 71.36%.
A number of brokerages have weighed in on RCI. Zacks Investment Research upgraded Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday. TD Securities restated a “buy” rating and issued a $58.00 target price on shares of Rogers Communication in a research note on Wednesday, July 6th. Scotiabank restated an “outperform” rating and issued a $56.00 target price on shares of Rogers Communication in a research note on Wednesday, June 15th. TheStreet upgraded Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Rogers Communication in a report on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average 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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