Hsbc Holdings PLC Has $8.14 Million Stock Position in Rogers Communication, Inc. $RCI

Key Points

• Hsbc Holdings PLC has reduced its stake in Rogers Communication, Inc. by 3.6%, selling 11,245 shares and retaining approximately 0.06% of the company, valued at $8,139,000.
• Rogers Communication is set to pay an increased quarterly dividend of $0.3672 on October 3rd, translating to an annual yield of 4.1% based on an annualized dividend of $1.47.
• The company reported $0.82 earnings per share (EPS), exceeding analyst expectations, with a revenue of $3.82 billion for the last quarter, up 2.4% year-over-year.

Hsbc Holdings PLC lowered its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 3.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 303,281 shares of the Wireless communications provider's stock after selling 11,245 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of Rogers Communication worth $8,139,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RCI. SBI Securities Co. Ltd. lifted its stake in shares of Rogers Communication by 885.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock valued at $25,000 after purchasing an additional 850 shares during the period. Versant Capital Management Inc acquired a new position in shares of Rogers Communication in the 1st quarter valued at $79,000. CWM LLC increased its position in shares of Rogers Communication by 57.4% in the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after buying an additional 1,363 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Rogers Communication by 263.1% in the 1st quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock valued at $137,000 after buying an additional 3,718 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Rogers Communication in the 1st quarter valued at $200,000. Institutional investors and hedge funds own 45.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Barclays upped their price objective on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $59.00.

Rogers Communication Stock Up 0.4%

RCI stock traded up $0.16 during trading hours on Friday, reaching $35.86. 598,167 shares of the stock were exchanged, compared to its average volume of 934,057. The firm's 50-day moving average is $33.32 and its 200-day moving average is $28.92. The company has a market cap of $19.29 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.33 and a beta of 0.77. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced 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. The company had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.Rogers Communication's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. On average, equities research analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 8th will be paid a $0.3672 dividend. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. The ex-dividend date is Monday, September 8th. This represents a $1.47 annualized dividend and a yield of 4.1%. Rogers Communication's dividend payout ratio (DPR) is 72.64%.

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.