Charles Schwab Investment Management Inc. Purchases 166,661 Shares of Rogers Communication, Inc. $RCI

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Rogers Communication, Inc. by 79.3% during the first quarter, now owning 376,794 shares valued at approximately $10.06 million.
• Rogers Communication reported an earnings per share of $0.82 in its latest quarterly earnings, surpassing analyst estimates of $0.80 and showing a year-over-year revenue growth of 2.4%.
• The company has declared a quarterly dividend of $0.3672 per share for October, marking an increase from the previous dividend of $0.36, and reflecting a dividend yield of 4.1%.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 79.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 376,794 shares of the Wireless communications provider's stock after acquiring an additional 166,661 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.07% of Rogers Communication worth $10,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. increased 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 acquiring an additional 850 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Rogers Communication in the first quarter worth $79,000. CWM LLC increased its position 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 last quarter. TD Private Client Wealth LLC increased its position 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 last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in Rogers Communication in the first quarter worth $236,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays raised their target price on Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Finally, Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Three equities 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, the company currently has a consensus rating of "Hold" and an average price target of $59.00.

Rogers Communication Price Performance

NYSE:RCI traded up $0.16 during trading hours on Friday, hitting $35.86. 598,167 shares of the company's stock traded hands, compared to its average volume of 934,057. The firm has a market cap of $19.29 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.33 and a beta of 0.77. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.84. The business's fifty day simple moving average is $33.32 and its two-hundred day simple moving average is $28.92. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23.

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 (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. On average, research analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 8th will be paid a dividend of $0.3672 per share. 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%. The ex-dividend date of this dividend is Monday, September 8th. Rogers Communication's dividend payout ratio is 72.64%.

Rogers Communication 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.