Nykredit A S Makes New Investment in Rogers Communication, Inc. $RCI

Key Points

• Nykredit A/S acquired 61,507 shares of Rogers Communication during the second quarter, valued at approximately $2 million. Several other institutional investors also increased their positions, with institutions collectively owning 45.49% of the stock.
• Rogers Communication reported quarterly EPS of $0.83, exceeding the $0.80 consensus estimate, while revenue rose 7.6% year over year to $3.95 billion.
• The company declared a quarterly dividend of $0.50, equivalent to $2.00 annually and a 5.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $36, below the reported share price of $37.50.

Nykredit A S acquired a new stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,507 shares of the Wireless communications provider's stock, valued at approximately $2,000,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its position in Rogers Communication by 52.3% in the 2nd quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider's stock valued at $27,724,000 after acquiring an additional 321,124 shares during the period. EverSource Wealth Advisors LLC lifted its position in Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider's stock worth $59,000 after acquiring an additional 683 shares during the period. Marshall Wace LLP grew its stake in shares of Rogers Communication by 36.5% in the 2nd quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider's stock valued at $1,103,000 after purchasing an additional 9,951 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Rogers Communication by 7.0% in the 2nd quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider's stock valued at $326,000 after purchasing an additional 724 shares during the last quarter. Finally, AXA S.A. increased its holdings in shares of Rogers Communication by 231.1% in the second quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider's stock valued at $1,481,000 after purchasing an additional 34,860 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Stock Down 0.1%

Rogers Communication stock opened at $37.50 on Tuesday. The stock's 50 day moving average price is $34.69 and its 200 day moving average price is $36.28. Rogers Communication, Inc. has a 1-year low of $31.38 and a 1-year high of $41.14. The company has a market cap of $20.26 billion, a PE ratio of 4.53, a price-to-earnings-growth ratio of 4.66 and a beta of 0.66. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The firm had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.91 billion. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.Rogers Communication's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. On average, sell-side analysts predict that Rogers Communication, Inc. will post 3.29 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. Rogers Communication's dividend payout ratio (DPR) is 17.51%.

Wall Street Analysts Forecast Growth

RCI has been the subject of several analyst reports. Scotiabank restated an "outperform" rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Barclays lowered their price objective on shares of Rogers Communication from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 16th. Raymond James Financial started coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They issued an "outperform" rating on the stock. Weiss Ratings upgraded shares of Rogers Communication from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Rogers Communication from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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