Nuveen LLC Invests $8.17 Million in Rogers Communication, Inc. $RCI

Key Points

• Nuveen LLC has made a significant new investment of $8.17 million in Rogers Communication, acquiring 305,873 shares in the first quarter, representing approximately 0.06% of the company.
• Rogers Communication recently declared an increased quarterly dividend of $0.3672, reflecting a yield of 4.1%, payable on October 3rd to shareholders on record as of September 8th.
• The company's Q2 earnings report showed an EPS of $0.82, slightly surpassing analyst expectations, but its revenue of $3.82 billion fell short of the forecasted $5.12 billion.

Nuveen LLC purchased a new position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 305,873 shares of the Wireless communications provider's stock, valued at approximately $8,167,000. Nuveen LLC owned 0.06% of Rogers Communication at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its stake in Rogers Communication by 885.4% during 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. JTC Employer Solutions Trustee Ltd lifted its holdings in shares of Rogers Communication by 1.2% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 102,545 shares of the Wireless communications provider's stock worth $2,755,000 after acquiring an additional 1,180 shares during the last quarter. CWM LLC lifted its holdings 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 worth $100,000 after acquiring an additional 1,363 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Rogers Communication by 10.3% in the 1st quarter. M&T Bank Corp now owns 19,739 shares of the Wireless communications provider's stock worth $527,000 after acquiring an additional 1,846 shares during the last quarter. Finally, Louisbourg Investments Inc. lifted its holdings in shares of Rogers Communication by 0.8% in the 1st quarter. Louisbourg Investments Inc. now owns 248,503 shares of the Wireless communications provider's stock worth $6,643,000 after acquiring an additional 2,033 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RCI shares. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Finally, 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 report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $59.00.

Rogers Communication Price Performance

RCI traded up $0.16 during trading on Friday, reaching $35.86. 598,167 shares of the company traded hands, compared to its average volume of 934,057. The firm has a fifty day simple moving average of $33.32 and a 200 day simple moving average of $28.91. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70. The company has a market cap of $19.29 billion, a P/E ratio of 17.84, a PEG ratio of 2.32 and a beta of 0.77.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate 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 was up 2.4% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. On average, equities analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

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

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.