Rogers Communication, Inc. $RCI Stock Position Lowered by Amundi

Amundi decreased its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 16.4% in the second quarter, HoldingsChannel reports. The firm owned 522,965 shares of the Wireless communications provider’s stock after selling 102,802 shares during the period. Amundi’s holdings in Rogers Communication were worth $16,662,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in shares of 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 in the last quarter. MAI Capital Management lifted its stake in Rogers Communication by 30.5% in the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock worth $58,000 after acquiring an additional 458 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 683 shares during the period. Parallel Advisors LLC grew its stake in Rogers Communication by 176.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider’s stock valued at $86,000 after acquiring an additional 1,847 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in 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 in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley reissued an “underweight” rating on shares of Rogers Communication in a research note on Wednesday. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a report on Monday, October 20th. Barclays increased their price objective on Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Finally, Cowen restated a “buy” rating on shares of Rogers Communication in a research note on Monday, December 1st. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Stock Performance

Shares of RCI opened at $35.89 on Thursday. The firm has a market cap of $19.39 billion, a price-to-earnings ratio of 3.99, a price-to-earnings-growth ratio of 3.38 and a beta of 0.74. The company’s fifty day moving average is $37.71 and its 200-day moving average is $34.32. 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 12 month low of $23.18 and a 12 month high of $40.26.

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