Scotia Capital Inc. Increases Position in Rogers Communications Inc. (NYSE:RCI)

Scotia Capital Inc. boosted its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,747,991 shares of the Wireless communications provider’s stock after acquiring an additional 34,368 shares during the quarter. Rogers Communications accounts for approximately 1.1% of Scotia Capital Inc.’s portfolio, making the stock its 24th largest holding. Scotia Capital Inc. owned about 0.34% of Rogers Communications worth $93,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Rogers Communications by 34.2% in the 1st quarter. Signaturefd LLC now owns 1,780 shares of the Wireless communications provider’s stock worth $96,000 after buying an additional 454 shares during the last quarter. Neuburgh Advisers LLC increased its stake in shares of Rogers Communications by 12.2% in the 2nd quarter. Neuburgh Advisers LLC now owns 2,352 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 256 shares during the period. Glen Harbor Capital Management LLC increased its stake in shares of Rogers Communications by 12.2% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 3,234 shares of the Wireless communications provider’s stock valued at $166,000 after buying an additional 352 shares during the period. Riverhead Capital Management LLC raised its position in shares of Rogers Communications by 11.9% during the second quarter. Riverhead Capital Management LLC now owns 3,765 shares of the Wireless communications provider’s stock worth $194,000 after acquiring an additional 400 shares during the last quarter. Finally, Sound View Wealth Advisors LLC bought a new stake in shares of Rogers Communications during the first quarter worth $202,000. 51.24% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on RCI. BMO Capital Markets cut their price target on Rogers Communications from $81.00 to $79.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lowered Rogers Communications from a “neutral” rating to an “underweight” rating in a research report on Monday, July 8th. Zacks Investment Research cut Rogers Communications from a “buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a report on Friday, July 26th. Echelon Wealth Partners upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, ValuEngine lowered shares of Rogers Communications from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Rogers Communications presently has a consensus rating of “Hold” and a consensus price target of $60.18.

NYSE:RCI traded up $0.41 during mid-day trading on Wednesday, hitting $50.90. 263,040 shares of the company’s stock were exchanged, compared to its average volume of 373,808. Rogers Communications Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $55.93. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $25.77 billion, a P/E ratio of 15.19, a PEG ratio of 2.97 and a beta of 0.55. The company has a 50 day simple moving average of $50.99 and a 200-day simple moving average of $52.43.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Tuesday, July 23rd. The Wireless communications provider reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.02). Rogers Communications had a net margin of 13.79% and a return on equity of 26.66%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the company posted $1.07 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. As a group, analysts expect that Rogers Communications Inc. will post 3.39 earnings per share for the current year.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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