Rogers Communication, Inc. $RCI is Scheer Rowlett & Associates Investment Management Ltd.’s 10th Largest Position

Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 13.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,003,712 shares of the Wireless communications provider’s stock after acquiring an additional 234,764 shares during the period. Rogers Communication comprises 3.9% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 10th largest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Rogers Communication were worth $59,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. increased its stake in shares of Rogers Communication by 885.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider’s stock worth $25,000 after purchasing an additional 850 shares in the last quarter. Parallel Advisors LLC lifted its stake in Rogers Communication by 176.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider’s stock valued at $86,000 after buying an additional 1,847 shares in the last quarter. CWM LLC grew its holdings in Rogers Communication by 57.4% during the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock valued at $100,000 after buying an additional 1,363 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Rogers Communication by 48.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider’s stock worth $113,000 after buying an additional 1,389 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in Rogers Communication by 263.1% during the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider’s stock worth $137,000 after buying an additional 3,718 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RCI. Barclays upped their price objective on Rogers Communication from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 12th. Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. Finally, Cowen reiterated a “buy” rating on shares of Rogers Communication in a report on Friday, October 24th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.00.

Rogers Communication Stock Performance

Rogers Communication stock opened at $37.39 on Friday. The stock has a fifty day moving average price of $36.50 and a 200 day moving average price of $32.30. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $40.26. The firm has a market capitalization of $20.20 billion, a P/E ratio of 4.15, a PEG ratio of 3.29 and a beta of 0.81. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the previous year, the business earned $1.42 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.