Geode Capital Management LLC Acquires 550,132 Shares of Rogers Communication, Inc. $RCI

Geode Capital Management LLC raised its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 21.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,144,900 shares of the Wireless communications provider’s stock after purchasing an additional 550,132 shares during the period. Geode Capital Management LLC’s holdings in Rogers Communication were worth $96,613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. lifted its holdings in shares of Rogers Communication by 106.2% during the second quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 1,005 shares in the last quarter. Parallel Advisors LLC raised its position in Rogers Communication by 176.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider’s stock worth $86,000 after buying an additional 1,847 shares during the last quarter. CWM LLC lifted its stake in Rogers Communication by 57.4% during the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock valued at $100,000 after acquiring an additional 1,363 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Rogers Communication by 48.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider’s stock valued at $113,000 after acquiring an additional 1,389 shares during the last quarter. Finally, Tobam grew its stake in shares of Rogers Communication by 148.6% in the second quarter. Tobam now owns 4,005 shares of the Wireless communications provider’s stock worth $119,000 after acquiring an additional 2,394 shares during the period. Institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

RCI has been the topic of a number of research analyst reports. Cowen restated a “buy” rating on shares of Rogers Communication in a research report on Friday, October 24th. Barclays increased their price target on Rogers Communication from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rogers Communication presently has a consensus rating of “Hold” and an average price target of $36.00.

Rogers Communication Trading Up 1.5%

NYSE:RCI opened at $38.34 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.62 and a quick ratio of 0.59. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 4.26, a price-to-earnings-growth ratio of 3.29 and a beta of 0.81. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $40.26. The business has a fifty day moving average price of $37.01 and a 200-day moving average price of $33.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. Rogers Communication had a return on equity of 17.14% and a net margin of 32.49%.The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the business earned $1.42 earnings per share. Rogers Communication’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current year.

About Rogers Communication

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.