Rogers Communication, Inc. $RCI Shares Bought by QV Investors Inc.

QV Investors Inc. raised its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 31.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,076,059 shares of the Wireless communications provider’s stock after purchasing an additional 257,096 shares during the period. Rogers Communication accounts for approximately 2.4% of QV Investors Inc.’s holdings, making the stock its 15th biggest holding. QV Investors Inc. owned 0.20% of Rogers Communication worth $33,212,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RCI. Louisbourg Investments Inc. lifted its position in shares of Rogers Communication by 35.7% during the third quarter. Louisbourg Investments Inc. now owns 179,077 shares of the Wireless communications provider’s stock worth $5,531,000 after purchasing an additional 47,157 shares during the last quarter. Gold Investment Management Ltd. grew its stake in Rogers Communication by 9.7% in the third quarter. Gold Investment Management Ltd. now owns 33,571 shares of the Wireless communications provider’s stock worth $1,034,000 after purchasing an additional 2,959 shares in the last quarter. IFP Advisors Inc grew its stake in Rogers Communication by 224.7% in the third quarter. IFP Advisors Inc now owns 1,445 shares of the Wireless communications provider’s stock worth $45,000 after purchasing an additional 1,000 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Rogers Communication by 7.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,037,804 shares of the Wireless communications provider’s stock worth $155,491,000 after acquiring an additional 332,725 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Rogers Communication in the 3rd quarter worth approximately $75,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RCI shares. Weiss Ratings downgraded Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday. Barclays reduced their price objective on Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. Desjardins raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Monday, September 14th. Finally, Raymond James Financial began coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Rogers Communication Stock Up 1.9%

NYSE RCI opened at $32.26 on Wednesday. Rogers Communication, Inc. has a 12 month low of $29.25 and a 12 month high of $41.14. The company’s 50 day simple moving average is $34.23 and its 200 day simple moving average is $34.88. The company has a market capitalization of $17.42 billion, a P/E ratio of 3.90, a PEG ratio of 3.98 and a beta of 0.65. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, topping 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 company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts expect that Rogers Communication, Inc. will post 3.24 earnings per share for the current fiscal 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.