JPMorgan Chase & Co. Buys 8,801 Shares of Rogers Communication, Inc. $RCI

JPMorgan Chase & Co. grew its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 0.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,270,817 shares of the Wireless communications provider’s stock after buying an additional 8,801 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.42% of Rogers Communication worth $67,352,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. TD Private Client Wealth LLC boosted its holdings in shares of Rogers Communication by 6.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 5,461 shares of the Wireless communications provider’s stock valued at $162,000 after acquiring an additional 330 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Rogers Communication by 106.2% in 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 during the last quarter. A&I Financial Services LLC boosted its stake in shares of Rogers Communication by 6.6% during the second quarter. A&I Financial Services LLC now owns 20,928 shares of the Wireless communications provider’s stock valued at $621,000 after purchasing an additional 1,291 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Rogers Communication by 7.9% during the second quarter. PNC Financial Services Group Inc. now owns 17,744 shares of the Wireless communications provider’s stock worth $526,000 after purchasing an additional 1,297 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd grew its holdings in shares of Rogers Communication by 1.4% during the second quarter. JTC Employer Solutions Trustee Ltd now owns 103,931 shares of the Wireless communications provider’s stock worth $3,068,000 after purchasing an additional 1,386 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communication Price Performance

Shares of NYSE RCI opened at $39.09 on Friday. The company has a market capitalization of $21.12 billion, a PE ratio of 4.34, a P/E/G ratio of 3.29 and a beta of 0.81. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 1.55. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $40.26. The firm has a fifty day simple moving average of $37.33 and a 200 day simple moving average of $33.66.

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

Analyst Upgrades and Downgrades

RCI has been the topic of several recent research reports. Cowen reiterated a “buy” rating on shares of Rogers Communication in a research report on Friday, October 24th. Barclays boosted their price objective on shares of Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Profile

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.