Nykredit A S Acquires New Shares in Rogers Communication, Inc. $RCI

Key Points

• Nykredit A/S initiated a position in Rogers Communications by purchasing 56,805 shares valued at approximately $1.85 million. Institutional investors collectively own 45.49% of the company.
• Rogers shares fell 3.3% to $33.28, near the lower end of their 52-week range. The stock trades at a low P/E ratio of 4.02 and offers a 6.0% dividend yield.
• The company exceeded quarterly expectations, reporting $0.83 in EPS and $3.95 billion in revenue, while revenue grew 7.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with a $36 price target.

Nykredit A S bought a new position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,805 shares of the Wireless communications provider's stock, valued at approximately $1,847,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RCI. TD Asset Management Inc boosted its holdings in Rogers Communication by 2.3% in the fourth quarter. TD Asset Management Inc now owns 8,540,114 shares of the Wireless communications provider's stock worth $322,789,000 after acquiring an additional 195,189 shares in the last quarter. Fiera Capital Corp raised its position in shares of Rogers Communication by 8,881.3% in the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider's stock valued at $271,751,000 after purchasing an additional 7,116,744 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Rogers Communication by 7.6% in the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider's stock valued at $241,467,000 after purchasing an additional 445,964 shares during the last quarter. Geode Capital Management LLC boosted its stake in Rogers Communication by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 3,893,422 shares of the Wireless communications provider's stock worth $153,723,000 after purchasing an additional 299,794 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Rogers Communication by 98.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider's stock worth $77,871,000 after purchasing an additional 1,004,963 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Stock Down 3.3%

Shares of RCI stock opened at $33.28 on Wednesday. The stock has a 50 day moving average of $35.40 and a 200 day moving average of $35.99. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The stock has a market cap of $17.98 billion, a P/E ratio of 4.02, a P/E/G ratio of 4.27 and a beta of 0.66. Rogers Communication, Inc. has a twelve month low of $31.38 and a twelve month high of $41.14.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The business's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. As a group, sell-side analysts expect that Rogers Communication, Inc. will post 3.29 EPS for the current year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, September 8th. Rogers Communication's dividend payout ratio (DPR) is currently 17.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RCI shares. Scotiabank restated an "outperform" rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Raymond James Financial assumed coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They set an "outperform" rating for the company. Desjardins raised shares of Rogers Communication from a "hold" rating to a "buy" rating in a report on Monday, September 14th. Weiss Ratings raised Rogers Communication from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Finally, TD Securities restated a "buy" rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.

Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.

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