Hsbc Holdings PLC Has $9.68 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Hsbc Holdings PLC raised its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 68.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 314,526 shares of the Wireless communications provider's stock after acquiring an additional 128,280 shares during the period. Hsbc Holdings PLC owned about 0.06% of Rogers Communications worth $9,684,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock worth $47,000 after purchasing an additional 744 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after buying an additional 1,052 shares during the last quarter. Headlands Technologies LLC grew its stake in Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after buying an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock worth $178,000 after buying an additional 930 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Rogers Communications in the third quarter valued at approximately $248,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RCI shares. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Barclays restated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Finally, Scotiabank lowered shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $67.00.

Rogers Communications Trading Up 0.4 %

Shares of RCI stock traded up $0.11 on Friday, reaching $25.52. 697,372 shares of the stock were exchanged, compared to its average volume of 1,011,133. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications Inc. has a one year low of $23.18 and a one year high of $41.84. The stock has a market cap of $13.68 billion, a PE ratio of 11.00, a P/E/G ratio of 1.43 and a beta of 0.67. The stock has a 50 day moving average price of $26.43 and a 200 day moving average price of $30.24.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be issued a $0.3611 dividend. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 5.66%. The ex-dividend date is Monday, June 9th. Rogers Communications's dividend payout ratio is currently 59.66%.

Rogers Communications 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.