Rogers Communication, Inc. $RCI Shares Bought by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. has increased its stake in Rogers Communication, Inc. by 194.6%, acquiring an additional 98,074 shares, bringing its total holdings to 148,469 shares valued at nearly $4 million.
• Rogers Communication announced a quarterly dividend of $0.3672, representing a boost from the previous dividend and yielding 4.1% annually, with the ex-dividend date set for September 8th.
• Analysts have given Rogers Communication a consensus rating of "Hold" with a price target of $59.00, indicating cautious optimism about the stock's performance.

Graham Capital Management L.P. grew its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 194.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,469 shares of the Wireless communications provider's stock after purchasing an additional 98,074 shares during the quarter. Graham Capital Management L.P.'s holdings in Rogers Communication were worth $3,969,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Twin Tree Management LP grew its holdings in shares of Rogers Communication by 49,273.1% during the first quarter. Twin Tree Management LP now owns 268,096 shares of the Wireless communications provider's stock valued at $7,166,000 after purchasing an additional 267,553 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Rogers Communication by 373.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider's stock worth $76,671,000 after buying an additional 2,263,859 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Rogers Communication by 12.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 452,127 shares of the Wireless communications provider's stock worth $12,085,000 after buying an additional 49,125 shares in the last quarter. Walleye Capital LLC bought a new position in Rogers Communication in the 1st quarter worth approximately $575,000. Finally, Northwestern Mutual Wealth Management Co. grew 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 buying an additional 1,389 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of recent analyst reports. Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Barclays increased their price objective 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 investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rogers Communication presently has an average rating of "Hold" and an average price target of $59.00.

Rogers Communication Price Performance

RCI traded up $0.25 during trading on Friday, reaching $35.84. The stock had a trading volume of 1,225,429 shares, compared to its average volume of 1,217,065. The firm has a market capitalization of $19.28 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. 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, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The stock has a 50 day moving average of $33.86 and a two-hundred day moving average of $29.12.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results 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 return on equity of 21.59% and a net margin of 7.33%.The firm 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 earnings per share. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be given a dividend of $0.3672 per share. This is a boost from Rogers Communication's previous quarterly dividend of $0.36. The ex-dividend date is Monday, September 8th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.1%. Rogers Communication's payout ratio is currently 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.