Polar Asset Management Partners Inc. Has $3.34 Million Position in Rogers Communication, Inc. $RCI

Key Points

• Polar Asset Management Partners Inc. increased its stake in Rogers Communication, Inc. by 194.1%, holding a total of 125,000 shares valued at $3,342,000 by the end of the 1st quarter.
• Rogers Communication recently reported earnings of $0.82 per share, exceeding analysts' expectations, and had a revenue of $3.82 billion, reflecting a 2.4% year-over-year increase.
• The company declared a quarterly dividend of $0.3672 per share, increasing from its previous dividend, which yields approximately 4.1% annually.

Polar Asset Management Partners Inc. boosted its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 194.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 125,000 shares of the Wireless communications provider's stock after buying an additional 82,500 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Rogers Communication were worth $3,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCI. SBI Securities Co. Ltd. lifted its position in shares of 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 buying an additional 850 shares during the last quarter. JTC Employer Solutions Trustee Ltd grew its holdings in Rogers Communication by 1.2% during the first 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 period. CWM LLC increased its holdings in 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 buying an additional 1,363 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Rogers Communication by 48.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider's stock worth $113,000 after acquiring an additional 1,389 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Rogers Communication by 10.3% in the first 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. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RCI. BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. Finally, Barclays upped their price target on Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $59.00.

Rogers Communication Trading Down 0.5%

NYSE:RCI traded down $0.20 on Tuesday, reaching $35.53. The stock had a trading volume of 832,639 shares, compared to its average volume of 844,564. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.20. The company has a market cap of $19.11 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 2.33 and a beta of 0.79. The firm's fifty day moving average is $34.11 and its two-hundred day moving average is $29.25. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $5.12 billion. During the same period in the prior year, the firm posted $1.16 EPS. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be paid a dividend of $0.3672 per share. The ex-dividend date is Monday, September 8th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a yield of 4.1%. Rogers Communication's payout ratio is presently 71.64%.

About Rogers Communication

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.