Cubist Systematic Strategies LLC decreased its position in Rogers Communications Inc. (NYSE:RCI – Get Rating) (TSE:RCI.B) by 10.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,601 shares of the Wireless communications provider’s stock after selling 9,623 shares during the period. Cubist Systematic Strategies LLC’s holdings in Rogers Communications were worth $3,260,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Rogers Communications by 19.1% during the second quarter. FMR LLC now owns 7,914,046 shares of the Wireless communications provider’s stock worth $379,225,000 after purchasing an additional 1,271,206 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of Rogers Communications by 47.0% during the third quarter. Burgundy Asset Management Ltd. now owns 2,608,181 shares of the Wireless communications provider’s stock worth $100,479,000 after purchasing an additional 833,695 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Rogers Communications by 342.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,025,906 shares of the Wireless communications provider’s stock worth $39,467,000 after purchasing an additional 794,069 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Rogers Communications by 120.0% during the second quarter. Jane Street Group LLC now owns 1,130,111 shares of the Wireless communications provider’s stock worth $54,132,000 after purchasing an additional 616,516 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Rogers Communications by 8.8% during the second quarter. Bank of Nova Scotia now owns 7,046,637 shares of the Wireless communications provider’s stock worth $337,807,000 after purchasing an additional 568,343 shares in the last quarter. Hedge funds and other institutional investors own 45.46% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently commented on RCI shares. Scotiabank boosted their target price on shares of Rogers Communications from C$71.00 to C$74.75 in a research note on Tuesday, January 3rd. TheStreet upgraded shares of Rogers Communications from a “c” rating to a “b” rating in a research report on Monday, February 6th. TD Securities boosted their price target on shares of Rogers Communications from C$76.00 to C$78.00 in a research report on Friday, February 3rd. Desjardins restated a “buy” rating on shares of Rogers Communications in a research report on Friday, February 3rd. Finally, UBS Group upgraded shares of Rogers Communications from a “neutral” rating to a “buy” rating in a research report on Monday, February 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.31.
Rogers Communications Price Performance
Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last issued its earnings results on Thursday, February 2nd. The Wireless communications provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. Rogers Communications had a net margin of 10.90% and a return on equity of 18.14%. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.08 billion. On average, research analysts forecast that Rogers Communications Inc. will post 3.22 earnings per share for the current fiscal year.
Rogers Communications Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be paid a $0.368 dividend. This represents a $1.47 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, March 9th. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s dividend payout ratio (DPR) is 58.63%.
Rogers Communications Company Profile
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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.
Read More
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