Ontario Teachers Pension Plan Board Acquires 6,965 Shares of Rogers Communications Inc. (NYSE:RCI)

Ontario Teachers Pension Plan Board lifted its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 10.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,860 shares of the Wireless communications provider’s stock after purchasing an additional 6,965 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Rogers Communications were worth $4,134,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Rogers Communications in the 4th quarter valued at $88,666,000. Nordea Investment Management AB raised its holdings in Rogers Communications by 1,093.0% in the 4th quarter. Nordea Investment Management AB now owns 1,634,295 shares of the Wireless communications provider’s stock worth $114,337,000 after purchasing an additional 1,497,300 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Rogers Communications in the 1st quarter worth about $73,262,000. Mackenzie Financial Corp raised its holdings in Rogers Communications by 26.6% in the 4th quarter. Mackenzie Financial Corp now owns 3,826,705 shares of the Wireless communications provider’s stock worth $196,157,000 after purchasing an additional 803,916 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in Rogers Communications by 522.2% during the 1st quarter. Pictet Asset Management Ltd. now owns 847,719 shares of the Wireless communications provider’s stock worth $45,605,000 after buying an additional 711,477 shares in the last quarter. 44.05% of the stock is currently owned by institutional investors.

Shares of Rogers Communications stock traded up $0.49 during trading on Friday, reaching $53.52. The company had a trading volume of 360,400 shares, compared to its average volume of 397,698. Rogers Communications Inc. has a fifty-two week low of $47.05 and a fifty-two week high of $55.93. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.60 and a current ratio of 0.67. The firm has a market capitalization of $27.08 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57. The firm’s fifty day simple moving average is $52.41.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. Rogers Communications had a net margin of 13.47% and a return on equity of 27.28%. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Rogers Communications Inc. will post 3.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $0.3732 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.49 dividend on an annualized basis and a yield of 2.79%. Rogers Communications’s payout ratio is 44.18%.

A number of research firms have recently issued reports on RCI. Royal Bank of Canada restated a “hold” rating on shares of Rogers Communications in a research report on Monday, April 22nd. Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Echelon Wealth Partners cut Rogers Communications from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Scotia Howard Weill restated a “sector perform” rating on shares of Rogers Communications in a research note on Monday, April 22nd. Finally, ValuEngine cut Rogers Communications from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.68.

Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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