OMERS ADMINISTRATION Corp Has $93.46 Million Position in Rogers Communication, Inc. (RCI)
OMERS ADMINISTRATION Corp boosted its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,981,560 shares of the Wireless communications provider’s stock after buying an additional 83,500 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.49% of Rogers Communication worth $93,455,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Creative Planning raised 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 in the last quarter. 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 in the last quarter. Wetherby Asset Management Inc. purchased a new stake in Rogers Communication during the second quarter worth approximately $203,000. Paloma Partners Management Co purchased a new stake in Rogers Communication during the first quarter worth approximately $288,000. Finally, Signaturefd LLC purchased a new stake in Rogers Communication during the first quarter worth approximately $304,000. 47.55% of the stock is owned by institutional investors.
Rogers Communication, Inc. (NYSE RCI) traded down 0.14% during mid-day trading on Monday, hitting $51.74. 16,352 shares of the stock were exchanged. The stock has a market capitalization of $26.64 billion, a P/E ratio of 32.68 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. The firm has a 50-day moving average price of $50.80 and a 200-day moving average price of $46.46.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The company 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%. Rogers Communication’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Equities analysts predict that Rogers Communication, Inc. will post $2.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.92 annualized dividend and a dividend yield of 3.71%. Rogers Communication’s payout ratio is 95.95%.
RCI has been the subject of a number of research analyst reports. BidaskClub raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Wednesday, July 12th. Finally, Morgan Stanley increased their price target on shares of Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday. Five equities research 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 company. The stock has an average rating of “Buy” and a consensus target price of $56.43.
About Rogers Communication
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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