Meritage Portfolio Management Buys 92,235 Shares of Rogers Communication, Inc. $RCI

Key Points

• Meritage Portfolio Management boosted its stake in Rogers Communication by 137.9%, acquiring 92,235 shares and bringing its total to 159,115 shares valued at approximately $4.72 million by the end of the second quarter.
• Rogers Communication's recent quarterly earnings report showed a net margin of 7.33% and an earnings per share of $0.82, surpassing analyst estimates by $0.02.
• The company announced an increase in its quarterly dividend to $0.3672 per share, reflecting a 4.0% dividend yield with a payout ratio of 72.14%.

Meritage Portfolio Management increased its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 137.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,115 shares of the Wireless communications provider's stock after acquiring an additional 92,235 shares during the period. Meritage Portfolio Management's holdings in Rogers Communication were worth $4,719,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in shares of Rogers Communication by 885.4% in the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock valued at $25,000 after acquiring an additional 850 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Rogers Communication by 176.9% in the second quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider's stock valued at $86,000 after acquiring an additional 1,847 shares in the last quarter. CWM LLC grew its holdings in shares of Rogers Communication by 57.4% in the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after acquiring an additional 1,363 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rogers Communication by 48.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider's stock valued at $113,000 after acquiring an additional 1,389 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Rogers Communication by 263.1% in the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock valued at $137,000 after acquiring an additional 3,718 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RCI shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Barclays upped their target price on Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rogers Communication in a report on Wednesday. Finally, Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $33.00.

Rogers Communication Price Performance

Shares of NYSE RCI opened at $36.81 on Friday. The stock has a fifty day simple moving average of $35.24 and a two-hundred day simple moving average of $30.49. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $39.33. The firm has a market cap of $19.81 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.95 and a beta of 0.78. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23.

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. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same period in the prior year, the company earned $1.16 earnings per share. Rogers Communication's revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 8th were given a dividend of $0.3672 per share. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, September 8th. Rogers Communication's dividend payout ratio (DPR) is currently 72.14%.

Rogers Communication 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 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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