Gulf International Bank UK Ltd Acquires 19,864 Shares of Rogers Communication, Inc. $RCI

Key Points

• Gulf International Bank UK Ltd increased its stake in Rogers Communication by an impressive 2,470.6%, acquiring an additional 19,864 shares and bringing its total holdings to 20,668 shares worth $552,000.
• The company announced a quarterly dividend of $0.3672, reflecting an increase from the previous dividend of $0.36, which results in an annualized yield of 4.2%.
• Rogers Communication reported $0.82 EPS for the latest quarter, exceeding analysts' expectations, and had a revenue of $3.82 billion, up 2.4% compared to the previous year.

Gulf International Bank UK Ltd raised its holdings in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 2,470.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,668 shares of the Wireless communications provider's stock after buying an additional 19,864 shares during the period. Gulf International Bank UK Ltd's holdings in Rogers Communication were worth $552,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. boosted its holdings 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 worth $25,000 after purchasing an additional 850 shares during the period. Versant Capital Management Inc purchased a new stake in Rogers Communication in the first quarter worth about $79,000. CWM LLC lifted 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 worth $100,000 after buying an additional 1,363 shares during the period. TD Private Client Wealth LLC lifted its holdings in Rogers Communication by 263.1% in the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock worth $137,000 after buying an additional 3,718 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Rogers Communication in the first quarter worth about $200,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Price Performance

RCI stock traded up $0.0120 during mid-day trading on Tuesday, hitting $35.1820. The company had a trading volume of 808,609 shares, compared to its average volume of 1,249,183. The company has a 50-day moving average price of $32.04 and a 200 day moving average price of $28.47. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 2.29 and a beta of 0.77. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same period in the prior year, the company posted $1.16 EPS. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business 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 $0.3672 dividend. The ex-dividend date is Monday, September 8th. This represents a $1.47 dividend on an annualized basis and a yield of 4.2%. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's payout ratio is currently 72.64%.

Analysts Set New Price Targets

Several analysts have commented on the stock. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Barclays raised their target price on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $59.00.

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.