11,600 Shares in Rogers Communication, Inc. $RCI Purchased by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG has acquired 11,600 shares of Rogers Communication, Inc., totaling approximately $343,000 in value.
• The company recently increased its quarterly dividend to $0.3672 per share, resulting in an annualized dividend yield of 4.2%.
• Rogers Communication reported earnings of $0.82 per share for the last quarter, beating analyst expectations, despite revenue falling short of forecasts.

J. Safra Sarasin Holding AG acquired a new position in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,600 shares of the Wireless communications provider's stock, valued at approximately $343,000.

Several other hedge funds have also bought and sold shares of RCI. Wellington Management Group LLP boosted its stake in Rogers Communication by 95.6% during the fourth quarter. Wellington Management Group LLP now owns 43,424 shares of the Wireless communications provider's stock worth $1,334,000 after acquiring an additional 21,226 shares in the last quarter. Vest Financial LLC boosted its stake in Rogers Communication by 83.1% during the first quarter. Vest Financial LLC now owns 45,097 shares of the Wireless communications provider's stock worth $1,205,000 after acquiring an additional 20,474 shares in the last quarter. Monarch Capital Management Inc. boosted its stake in Rogers Communication by 11.8% during the first quarter. Monarch Capital Management Inc. now owns 54,783 shares of the Wireless communications provider's stock worth $1,475,000 after acquiring an additional 5,770 shares in the last quarter. Bard Financial Services Inc. bought a new stake in Rogers Communication during the first quarter worth about $1,263,000. Finally, Lorne Steinberg Wealth Management Inc. boosted its stake in Rogers Communication by 19.8% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 120,997 shares of the Wireless communications provider's stock worth $3,234,000 after acquiring an additional 19,986 shares in the last quarter. Institutional investors own 45.49% of the company's stock.

Rogers Communication Stock Down 1.1%

RCI opened at $34.77 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23. The firm has a 50 day moving average price of $35.01 and a 200-day moving average price of $30.20. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $39.33. The stock has a market capitalization of $18.70 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.81 and a beta of 0.78.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The firm had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $5.12 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The firm's quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 8th were issued a dividend of $0.3672 per share. The ex-dividend date of this dividend was Monday, September 8th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a dividend yield of 4.2%. Rogers Communication's dividend payout ratio is presently 72.64%.

Analyst Upgrades and Downgrades

RCI has been the subject of several recent analyst reports. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Barclays upped their target price on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Rogers Communication in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rogers Communication has a consensus rating of "Hold" and an average price target of $33.00.

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.

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