Paloma Partners Management Co bought a new position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,499 shares of the Wireless communications provider’s stock, valued at approximately $288,000.
Several other institutional investors have also recently modified their holdings of the company. US Bancorp DE raised its stake in Rogers Communication by 8.8% in the first quarter. US Bancorp DE now owns 3,429 shares of the Wireless communications provider’s stock worth $152,000 after buying an additional 278 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in shares of Rogers Communication during the first quarter worth about $168,000. Signaturefd LLC acquired a new position in shares of Rogers Communication during the first quarter worth about $304,000. Oxford Asset Management purchased a new position in Rogers Communication during the first quarter valued at $322,000. Finally, Raymond James Trust N.A. increased its position in 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 during the last quarter. 47.73% of the stock is currently owned by institutional investors.
Shares of Rogers Communication, Inc. (NYSE RCI) opened at 50.73 on Thursday. The firm’s 50-day moving average price is $49.28 and its 200-day moving average price is $45.43. The stock has a market capitalization of $26.12 billion, a P/E ratio of 31.79 and a beta of 0.86. Rogers Communication, Inc. has a 12 month low of $37.03 and a 12 month high of $53.07.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. On average, equities research analysts forecast that Rogers Communication, Inc. will post $2.72 EPS for the current year.
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Several research firms have weighed in on RCI. Canaccord Genuity reaffirmed a “buy” rating and issued a $60.00 price target on shares of Rogers Communication in a report on Thursday, April 13th. Zacks Investment Research lowered Rogers Communication from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Finally, BidaskClub upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.67.
Rogers Communication Company Profile
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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