Meritage Portfolio Management Invests $1.79 Million in Rogers Communication, Inc. (NYSE:RCI)

Meritage Portfolio Management acquired a new position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 66,880 shares of the Wireless communications provider's stock, valued at approximately $1,788,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC boosted its holdings in Rogers Communication by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock valued at $47,000 after purchasing an additional 744 shares during the period. Jones Financial Companies Lllp raised its position in shares of Rogers Communication by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock valued at $55,000 after buying an additional 1,052 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Rogers Communication in the first quarter valued at about $79,000. Headlands Technologies LLC lifted its stake in shares of Rogers Communication by 274.2% in the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after buying an additional 3,888 shares during the period. Finally, Prudential PLC grew its position in Rogers Communication by 21.6% during the fourth quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider's stock worth $268,000 after buying an additional 1,552 shares in the last quarter. Institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on RCI. Scotiabank cut Rogers Communication from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a research report on Wednesday. Finally, Canaccord Genuity Group upgraded Rogers Communication from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $67.00.

Rogers Communication Stock Up 0.8%

NYSE RCI opened at $32.12 on Friday. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.77 and a beta of 0.76. The stock's 50 day moving average is $26.93 and its two-hundred day moving average is $27.56. The company has a current ratio of 1.00, a quick ratio of 0.94 and a debt-to-equity ratio of 3.97.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communication had a return on equity of 25.28% and a net margin of 8.53%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter last year, the business earned $0.99 EPS. Rogers Communication's quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th were paid a $0.3611 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Rogers Communication's previous quarterly dividend of $0.35. Rogers Communication's payout ratio is currently 62.66%.

Rogers Communication 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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