Value Partners Investments Inc. Sells 34,590 Shares of Rogers Communication, Inc. $RCI

Value Partners Investments Inc. lowered its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 2,268,565 shares of the Wireless communications provider’s stock after selling 34,590 shares during the quarter. Rogers Communication comprises about 6.4% of Value Partners Investments Inc.’s portfolio, making the stock its 2nd largest holding. Value Partners Investments Inc.’s holdings in Rogers Communication were worth $78,074,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in shares of Rogers Communication by 303.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider’s stock valued at $148,047,000 after purchasing an additional 4,166,861 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Rogers Communication in the 2nd quarter valued at approximately $78,714,000. Platinum Investment Management Ltd. acquired a new stake in Rogers Communication during the 2nd quarter worth approximately $77,687,000. Canada Pension Plan Investment Board grew its holdings in Rogers Communication by 373.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider’s stock worth $76,671,000 after acquiring an additional 2,263,859 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Rogers Communication by 15.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock valued at $284,981,000 after acquiring an additional 1,255,794 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Stock Performance

Shares of Rogers Communication stock opened at $37.02 on Wednesday. The business has a 50-day moving average price of $37.85 and a two-hundred day moving average price of $35.01. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $40.26. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55. The company has a market cap of $20.00 billion, a P/E ratio of 4.11, a PEG ratio of 3.38 and a beta of 0.74.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.92 by $0.07. Rogers Communication had a return on equity of 17.14% and a net margin of 32.49%.The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, October 8th. Barclays lifted their target price on Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a research note on Monday, October 20th. Cowen restated a “buy” rating on shares of Rogers Communication in a research report on Monday, December 1st. Finally, Desjardins cut Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

About Rogers Communication

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.