32,908 Rogers Communication, Inc. $RCI Shares Sold by Vest Financial LLC

Key Points

• Vest Financial reduced its Rogers Communication holdings by 13.8% in the third quarter, selling 32,908 shares and retaining 205,740 shares valued at approximately $6.34 million. Institutional investors collectively own 45.49% of the company.
• Rogers reported quarterly earnings of $0.83 per share, exceeding analyst expectations of $0.80, while revenue rose 7.6% year over year to $3.95 billion.
• The stock opened at $33.16, with a consensus analyst rating of “Moderate Buy” and an average price target of $35.00, though Barclays and Weiss Ratings recently expressed more cautious views.

Vest Financial LLC lowered its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 13.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 205,740 shares of the Wireless communications provider's stock after selling 32,908 shares during the quarter. Vest Financial LLC's holdings in Rogers Communication were worth $6,337,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of RCI. IFP Advisors Inc grew its holdings in Rogers Communication by 224.7% during the 3rd quarter. IFP Advisors Inc now owns 1,445 shares of the Wireless communications provider's stock valued at $45,000 after buying an additional 1,000 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Rogers Communication during the 3rd quarter valued at about $75,000. Fortitude Family Office LLC acquired a new position in Rogers Communication during the third quarter worth approximately $76,000. EverSource Wealth Advisors LLC increased its holdings in shares of Rogers Communication by 15.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider's stock worth $119,000 after buying an additional 418 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Rogers Communication by 10.2% during the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider's stock worth $130,000 after acquiring an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communication Price Performance

NYSE RCI opened at $33.16 on Friday. Rogers Communication, Inc. has a 12 month low of $29.25 and a 12 month high of $41.14. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51. The company's 50 day simple moving average is $34.09 and its 200 day simple moving average is $34.85. The firm has a market capitalization of $17.91 billion, a PE ratio of 8.72, a P/E/G ratio of 3.99 and a beta of 0.65.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that Rogers Communication, Inc. will post 3.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RCI has been the subject of several recent research reports. Barclays dropped their price objective on shares of Rogers Communication from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 13th. Weiss Ratings lowered Rogers Communication from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. TD Securities restated a "buy" rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Raymond James Financial began coverage on Rogers Communication in a research note on Wednesday, July 15th. They set an "outperform" rating on the stock. Finally, Scotiabank restated an "outperform" rating on shares of Rogers Communication in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Rogers Communication presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Rogers Communication Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.

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