Entropy Technologies LP Purchases New Shares in Rogers Communication, Inc. $RCI

Entropy Technologies LP purchased a new position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,692 shares of the Wireless communications provider’s stock, valued at approximately $796,000.

A number of other large investors also recently added to or reduced their stakes in RCI. Manchester Capital Management LLC purchased a new position in Rogers Communication during the fourth quarter valued at $26,000. Farther Finance Advisors LLC increased its stake in shares of Rogers Communication by 107.4% during the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 407 shares in the last quarter. Headlands Technologies LLC increased its stake in shares of Rogers Communication by 143.2% during the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 683 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Rogers Communication during the 3rd quarter worth about $63,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RCI has been the topic of a number of research reports. Weiss Ratings lowered shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Barclays reduced their target price on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Wall Street Zen downgraded Rogers Communication from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Price Performance

Shares of NYSE RCI opened at $34.73 on Wednesday. The firm has a 50-day simple moving average of $35.52 and a 200-day simple moving average of $36.51. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $18.76 billion, a price-to-earnings ratio of 4.19, a price-to-earnings-growth ratio of 4.09 and a beta of 0.64. Rogers Communication, Inc. has a 52 week low of $31.38 and a 52 week high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. Rogers Communication’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. On average, equities analysts predict that Rogers Communication, Inc. will post 3.27 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is 16.91%.

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.