Geode Capital Management LLC Grows Holdings in Rogers Communication, Inc. $RCI

Geode Capital Management LLC increased its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,893,422 shares of the Wireless communications provider’s stock after buying an additional 299,794 shares during the period. Geode Capital Management LLC owned about 0.72% of Rogers Communication worth $153,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC purchased a new stake in Rogers Communication during the 4th quarter worth $195,000. 44 Wealth Management LLC purchased a new stake in Rogers Communication during the 4th quarter worth $501,000. Legal & General Group Plc increased its stake in Rogers Communication by 8.9% during the 4th quarter. Legal & General Group Plc now owns 1,758,829 shares of the Wireless communications provider’s stock worth $66,478,000 after buying an additional 143,684 shares during the period. Morningstar Investment Management LLC purchased a new stake in Rogers Communication during the 4th quarter worth $2,548,000. Finally, EverSource Wealth Advisors LLC increased its stake in Rogers Communication by 39.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,689 shares of the Wireless communications provider’s stock worth $101,000 after buying an additional 761 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Down 1.0%

NYSE:RCI opened at $37.82 on Thursday. The company has a market capitalization of $20.43 billion, a price-to-earnings ratio of 3.99, a price-to-earnings-growth ratio of 3.36 and a beta of 0.62. Rogers Communication, Inc. has a one year low of $26.30 and a one year high of $41.14. The stock has a 50-day simple moving average of $36.09 and a 200 day simple moving average of $37.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. Sell-side analysts predict that Rogers Communication, Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. Rogers Communication’s payout ratio is 15.51%.

Analysts Set New Price Targets

Several research firms recently issued reports on RCI. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. TD Securities downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Desjardins reissued a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Four 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.