Crestline Management LP bought a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,450 shares of the Wireless communications provider’s stock, valued at approximately $2,060,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RCI. Ladenburg Thalmann Financial Services Inc. grew its holdings in Rogers Communications by 107.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,308 shares of the Wireless communications provider’s stock worth $117,000 after acquiring an additional 1,198 shares during the period. Trexquant Investment LP acquired a new stake in Rogers Communications during the 3rd quarter worth $205,000. MANA Advisors LLC acquired a new stake in Rogers Communications during the 4th quarter worth $294,000. FDx Advisors Inc. acquired a new stake in Rogers Communications during the 4th quarter worth $305,000. Finally, Clearbridge Investments LLC grew its holdings in Rogers Communications by 466.8% during the 4th quarter. Clearbridge Investments LLC now owns 9,069 shares of the Wireless communications provider’s stock worth $462,000 after acquiring an additional 7,469 shares during the period. 47.79% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. National Bank Financial lowered shares of Rogers Communications from an “outperform” rating to a “sector perform” rating in a report on Friday, January 26th. Zacks Investment Research lowered shares of Rogers Communications from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Desjardins raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Morgan Stanley lifted their target price on shares of Rogers Communications from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Finally, Barclays reaffirmed a “hold” rating and set a $55.00 target price on shares of Rogers Communications in a report on Friday, January 26th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $62.75.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 25th. The Wireless communications provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.63 billion. Rogers Communications had a net margin of 12.09% and a return on equity of 30.65%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. analysts forecast that Rogers Communications Inc. will post 3.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 12th will be given a dividend of $0.3843 per share. The ex-dividend date of this dividend is Friday, March 9th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.39%. Rogers Communications’s dividend payout ratio is 60.94%.
Rogers Communications 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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