Rogers Communication, Inc. (NYSE:RCI) Position Increased by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board increased its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 317.7% during the second quarter, Holdings Channel reports. The fund owned 401,799 shares of the Wireless communications provider’s stock after buying an additional 305,599 shares during the period. Canada Pension Plan Investment Board’s holdings in Rogers Communication were worth $18,950,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Creative Planning increased its stake in Rogers Communication by 7.8% in the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after buying an additional 173 shares during the last quarter. US Bancorp DE increased 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. bought a new stake in Rogers Communication during the first quarter worth about $168,000. Paloma Partners Management Co bought a new stake in Rogers Communication during the first quarter worth about $288,000. Finally, Signaturefd LLC bought a new stake in Rogers Communication during the first quarter worth about $304,000. Hedge funds and other institutional investors own 47.78% of the company’s stock.
Rogers Communication, Inc. (NYSE:RCI) opened at 50.68 on Tuesday. Rogers Communication, Inc. has a 12 month low of $37.03 and a 12 month high of $53.07. The firm has a market capitalization of $26.09 billion, a PE ratio of 31.64 and a beta of 0.86. The firm’s 50-day moving average is $49.92 and its 200-day moving average is $45.98.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, July 20th. The Wireless communications provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Rogers Communication, Inc. will post $2.69 EPS for the current year.
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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Rogers Communication from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Canaccord Genuity set a $66.00 target price on shares of Rogers Communication and gave the company a “buy” rating in a report on Wednesday, April 19th. Finally, BidaskClub upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price 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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