Fiduciary Trust Co. maintained its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,493 shares of the Wireless communications provider’s stock at the end of the second quarter. Fiduciary Trust Co.’s holdings in Rogers Communication were worth $259,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of RCI. FMR LLC lifted its position in Rogers Communication by 10.2% during the 1st quarter. FMR LLC now owns 27,559,525 shares of the Wireless communications provider’s stock worth $1,218,560,000 after buying an additional 2,546,782 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Rogers Communication during the 1st quarter worth about $83,685,000. CIBC Asset Management Inc lifted its position in Rogers Communication by 41.3% during the 2nd quarter. CIBC Asset Management Inc now owns 4,493,734 shares of the Wireless communications provider’s stock worth $212,001,000 after buying an additional 1,314,087 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in Rogers Communication during the 2nd quarter worth about $21,915,000. Finally, Vanguard Group Inc. lifted its position in Rogers Communication by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 7,799,123 shares of the Wireless communications provider’s stock worth $344,877,000 after buying an additional 343,169 shares in the last quarter. Institutional investors and hedge funds own 47.55% of the company’s stock.
Rogers Communication, Inc. (NYSE RCI) opened at 53.17 on Tuesday. Rogers Communication, Inc. has a 52-week low of $37.03 and a 52-week high of $53.29. The firm has a market capitalization of $27.37 billion, a P/E ratio of 33.55 and a beta of 0.86. The firm’s 50-day moving average is $51.63 and its 200-day moving average is $47.11.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that Rogers Communication, Inc. will post $2.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Thursday, September 14th. Rogers Communication’s payout ratio is 95.95%.
Several research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Rogers Communication from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. BidaskClub upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Morgan Stanley upped their price target on shares of Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, August 25th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Rogers Communication has a consensus rating of “Buy” and a consensus target price of $56.43.
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About Rogers Communication
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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