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Paloma Partners Management Co Acquires New Position in Rogers Communication, Inc. (NYSE:RCI)
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Other institutional investors have also made changes to their positions in the company. US Bancorp DE raised its position in shares of Rogers Communication by 8.8% in the first quarter. US Bancorp DE now owns 3,429 shares of the Wireless communications provider’s stock valued at $152,000 after buying an additional 278 shares in the last quarter. Comerica Bank raised its position in shares of Rogers Communication by 1.3% in the first quarter. Comerica Bank now owns 23,199 shares of the Wireless communications provider’s stock valued at $1,068,000 after buying an additional 299 shares in the last quarter. World Asset Management Inc raised its position in shares of Rogers Communication by 1.6% in the first quarter. World Asset Management Inc now owns 25,069 shares of the Wireless communications provider’s stock valued at $1,109,000 after buying an additional 403 shares in the last quarter. Nexus Investment Management Inc. raised its position in shares of Rogers Communication by 2.6% in the first quarter. Nexus Investment Management Inc. now owns 16,165 shares of the Wireless communications provider’s stock valued at $714,000 after buying an additional 415 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Rogers Communication by 6.2% in the first quarter. Raymond James Trust N.A. now owns 7,747 shares of the Wireless communications provider’s stock valued at $343,000 after buying an additional 449 shares in the last quarter. Institutional investors and hedge funds own 48.77% of the company’s stock.
Shares of Rogers Communication, Inc. (NYSE:RCI) opened at 52.55 on Friday. Rogers Communication, Inc. has a 12-month low of $37.03 and a 12-month high of $52.58. The firm has a 50-day moving average of $47.67 and a 200 day moving average of $44.50. The firm has a market capitalization of $27.05 billion, a price-to-earnings ratio of 38.39 and a beta of 0.85.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.59 billion. Rogers Communication had a net margin of 7.42% and a return on equity of 29.13%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 EPS. On average, equities research analysts expect that Rogers Communication, Inc. will post $2.65 earnings per share for the current year.
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Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Rogers Communication from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. BidaskClub upgraded shares of Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. CIBC lowered shares of Rogers Communication from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, April 5th. They noted that the move was a valuation call. Finally, Canaccord Genuity set a $66.00 price objective on shares of Rogers Communication and gave the company a “buy” rating in a report on Wednesday, April 19th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $54.67.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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