Swiss National Bank Sells 53,300 Shares of Rogers Communication, Inc. $RCI

Key Points

• The Swiss National Bank trimmed its position in Rogers Communications by 4.8% during the third quarter, selling 53,300 shares and leaving it with 1,049,300 shares (~0.19% of the company) valued at about $36.14 million.
• Rogers reported quarterly EPS of $1.08, beating the $0.98 consensus, while revenue missed at $4.49 billion versus an expected $5.94 billion.
• The company announced a quarterly dividend of $0.50 (annualized $2.00), implying a 5.1% yield, with an ex-dividend date of March 10 and payment on April 2.

Swiss National Bank trimmed its position in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,049,300 shares of the Wireless communications provider's stock after selling 53,300 shares during the quarter. Swiss National Bank owned approximately 0.19% of Rogers Communication worth $36,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Metis Global Partners LLC raised its holdings in Rogers Communication by 12.6% in the 2nd quarter. Metis Global Partners LLC now owns 15,984 shares of the Wireless communications provider's stock valued at $474,000 after buying an additional 1,791 shares during the last quarter. Aviva PLC grew its holdings in Rogers Communication by 6.6% during the 2nd quarter. Aviva PLC now owns 253,736 shares of the Wireless communications provider's stock worth $7,525,000 after acquiring an additional 15,753 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Rogers Communication by 106.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider's stock valued at $58,000 after acquiring an additional 1,005 shares during the period. Forsta AP Fonden raised its stake in shares of Rogers Communication by 30.7% during the second quarter. Forsta AP Fonden now owns 102,100 shares of the Wireless communications provider's stock valued at $3,022,000 after acquiring an additional 24,000 shares during the last quarter. Finally, Tobam raised its stake in shares of Rogers Communication by 148.6% during the second quarter. Tobam now owns 4,005 shares of the Wireless communications provider's stock valued at $119,000 after acquiring an additional 2,394 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RCI. TD Securities reiterated a "buy" rating on shares of Rogers Communication in a report on Friday, January 30th. TD Cowen restated a "buy" rating on shares of Rogers Communication in a report on Friday, January 30th. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a research report on Monday, January 12th. Barclays reaffirmed a "positive" rating and set a $37.00 target price on shares of Rogers Communication in a report on Tuesday, January 27th. Finally, Wall Street Zen cut Rogers Communication from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $36.00.

Rogers Communication Stock Up 0.4%

NYSE RCI traded up $0.16 on Friday, hitting $38.84. 56,236 shares of the company were exchanged, compared to its average volume of 1,042,189. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48. The company has a market cap of $20.98 billion, a PE ratio of 4.21, a PEG ratio of 5.22 and a beta of 0.74. The stock has a fifty day moving average of $37.89 and a 200-day moving average of $37.27. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.14.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The business's revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 earnings per share. As a group, analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, March 10th. Rogers Communication's payout ratio is presently 15.89%.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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