Northern Trust Corp Buys 177,457 Shares of Rogers Communication, Inc. $RCI

Key Points

• Northern Trust Corp significantly increased its stake in Rogers Communication by 112.3% in the first quarter, owning 335,459 shares worth approximately $8.97 million.
• Rogers Communication recently reported an EPS of $0.82, exceeding analysts' expectations, despite quarterly revenue of $3.82 billion falling short of the predicted $5.12 billion.
• The company announced an increase in its quarterly dividend to $0.3672 per share, representing a 4.1% dividend yield, with the next payment scheduled for October 3rd.

Northern Trust Corp lifted its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 112.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,459 shares of the Wireless communications provider's stock after purchasing an additional 177,457 shares during the quarter. Northern Trust Corp owned 0.06% of Rogers Communication worth $8,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its position in Rogers Communication by 885.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after buying an additional 850 shares during the last quarter. Versant Capital Management Inc purchased a new position in Rogers Communication in the 1st quarter worth about $79,000. CWM LLC raised its position in Rogers Communication by 57.4% in the 1st 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 raised its position in Rogers Communication by 263.1% in the 1st 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, Caitong International Asset Management Co. Ltd purchased a new position in Rogers Communication in the 1st quarter worth about $200,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays boosted 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. Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rogers Communication currently has a consensus rating of "Hold" and an average price target of $59.00.

Rogers Communication Stock Performance

Shares of NYSE:RCI traded down $0.15 during mid-day trading on Monday, reaching $35.74. 1,161,870 shares of the company traded hands, compared to its average volume of 817,182. The company's 50 day moving average price is $34.11 and its 200-day moving average price is $29.25. The firm has a market cap of $19.23 billion, a PE ratio of 17.78, a PEG ratio of 2.34 and a beta of 0.79. 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, Inc. has a 52 week low of $23.18 and a 52 week high of $41.20.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.02. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The firm's revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. On average, equities analysts expect 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. Investors of record on Monday, September 8th will be paid 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 dividend payout ratio is presently 72.64%.

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.