Morningstar Investment Management LLC Buys Shares of 67,489 Rogers Communication, Inc. $RCI

Morningstar Investment Management LLC bought a new stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 67,489 shares of the Wireless communications provider’s stock, valued at approximately $2,548,000.

A number of other large investors also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Rogers Communication by 6.0% in the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock valued at $203,000 after buying an additional 334 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 407 shares during the last quarter. Gold Investment Management Ltd. lifted its position in Rogers Communication by 1.7% in the fourth quarter. Gold Investment Management Ltd. now owns 29,721 shares of the Wireless communications provider’s stock valued at $1,122,000 after buying an additional 488 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Rogers Communication by 1.8% in the second quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock valued at $1,101,000 after buying an additional 640 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after buying an additional 683 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Down 0.0%

Shares of RCI opened at $36.59 on Tuesday. The stock has a market capitalization of $19.77 billion, a PE ratio of 3.86, a P/E/G ratio of 3.22 and a beta of 0.61. Rogers Communication, Inc. has a 1 year low of $25.80 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. The company’s 50-day simple moving average is $36.20 and its 200-day simple moving average is $37.22.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. Analysts forecast that Rogers Communication, Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is currently 15.51%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RCI shares. Wall Street Zen cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. TD Securities cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Barclays reissued a “positive” rating and set a $37.00 price target on shares of Rogers Communication in a research report on Tuesday, January 27th. Finally, TD Cowen reissued a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Rogers Communication has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Company Profile

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.