Rogers Communication, Inc. $RCI Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,432 shares of the Wireless communications provider’s stock after selling 65,849 shares during the period. Hsbc Holdings PLC’s holdings in Rogers Communication were worth $7,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RCI. Polar Asset Management Partners Inc. boosted its position in Rogers Communication by 194.1% during the first quarter. Polar Asset Management Partners Inc. now owns 125,000 shares of the Wireless communications provider’s stock worth $3,342,000 after acquiring an additional 82,500 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Rogers Communication in the 2nd quarter worth approximately $328,000. Deutsche Bank AG boosted its holdings in shares of Rogers Communication by 4.7% during the 1st quarter. Deutsche Bank AG now owns 578,493 shares of the Wireless communications provider’s stock worth $15,463,000 after purchasing an additional 25,717 shares during the last quarter. Fiera Capital Corp grew its position in shares of Rogers Communication by 56.1% in the second quarter. Fiera Capital Corp now owns 78,335 shares of the Wireless communications provider’s stock valued at $2,322,000 after purchasing an additional 28,163 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Rogers Communication by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 2,270,817 shares of the Wireless communications provider’s stock valued at $67,352,000 after purchasing an additional 8,801 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RCI shares. Barclays boosted their price objective on Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a research report on Wednesday, October 8th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research report on Monday, October 20th. Finally, Cowen reiterated a “buy” rating on shares of Rogers Communication in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.00.

Rogers Communication Trading Down 0.7%

NYSE RCI opened at $37.55 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.62 and a quick ratio of 0.59. The stock has a market capitalization of $20.28 billion, a P/E ratio of 4.17, a PEG ratio of 3.50 and a beta of 0.74. The firm’s 50-day moving average is $37.59 and its two-hundred day moving average is $33.96. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $40.26.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. Rogers Communication had a net margin of 32.49% and a return on equity of 17.14%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period last year, the business earned $1.42 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

About Rogers Communication

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.