Wellington Management Group LLP lessened its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 32.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,654 shares of the Wireless communications provider’s stock after selling 3,163 shares during the period. Wellington Management Group LLP’s holdings in Rogers Communications were worth $276,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. CWM LLC grew its stake in Rogers Communications by 121.5% during the first quarter. CWM LLC now owns 720 shares of the Wireless communications provider’s stock worth $30,000 after buying an additional 395 shares during the last quarter. Van ECK Associates Corp grew its stake in Rogers Communications by 19.0% during the first quarter. Van ECK Associates Corp now owns 1,832 shares of the Wireless communications provider’s stock worth $77,000 after buying an additional 292 shares during the last quarter. Ancora Advisors LLC bought a new stake in Rogers Communications during the fourth quarter worth about $94,000. Signaturefd LLC grew its stake in Rogers Communications by 55.8% during the first quarter. Signaturefd LLC now owns 2,668 shares of the Wireless communications provider’s stock worth $111,000 after buying an additional 956 shares during the last quarter. Finally, Covington Capital Management bought a new stake in Rogers Communications during the fourth quarter worth about $124,000. 43.45% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on RCI shares. Canaccord Genuity increased their price target on shares of Rogers Communications from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Royal Bank of Canada reduced their price target on Rogers Communications from $64.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. TheStreet downgraded Rogers Communications from a “b-” rating to a “c+” rating in a report on Friday, March 27th. Veritas Investment Research lowered Rogers Communications from a “buy” rating to a “sell” rating in a research note on Wednesday, April 8th. Finally, Scotiabank decreased their target price on Rogers Communications from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Tuesday, May 26th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $63.57.
Shares of Rogers Communications stock opened at $40.36 on Wednesday. The company has a market capitalization of $20.01 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 3.87 and a beta of 0.49. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.10 and a quick ratio of 1.03. The business has a 50-day moving average of $41.41 and a two-hundred day moving average of $44.84. Rogers Communications Inc. has a 1 year low of $32.20 and a 1 year high of $54.82.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.13. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.52 billion. Rogers Communications had a return on equity of 22.08% and a net margin of 13.45%. Rogers Communications’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. On average, equities analysts anticipate that Rogers Communications Inc. will post 2.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.3519 per share. This represents a $1.41 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Tuesday, June 9th. Rogers Communications’s dividend payout ratio is 46.33%.
Rogers Communications Company 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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