Lincluden Management Ltd. Buys 21,304 Shares of Rogers Communication, Inc. $RCI

Lincluden Management Ltd. raised its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 26.8% in the second quarter, Holdings Channel reports. The fund owned 100,811 shares of the Wireless communications provider’s stock after purchasing an additional 21,304 shares during the quarter. Lincluden Management Ltd.’s holdings in Rogers Communication were worth $2,988,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its holdings in shares of Rogers Communication by 885.4% in the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider’s stock worth $25,000 after acquiring an additional 850 shares during the last quarter. Parallel Advisors LLC raised its holdings in Rogers Communication by 176.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider’s stock valued at $86,000 after buying an additional 1,847 shares during the last quarter. CWM LLC raised its holdings in Rogers Communication by 57.4% in the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock valued at $100,000 after buying an additional 1,363 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised 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 valued at $113,000 after buying an additional 1,389 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings 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 valued at $137,000 after buying an additional 3,718 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RCI. Barclays raised their price objective on shares of Rogers Communication from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Scotiabank reiterated a “sector perform” rating on shares of Rogers Communication in a report on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.00.

Rogers Communication Stock Performance

NYSE:RCI opened at $36.81 on Friday. The company has a market capitalization of $19.81 billion, a PE ratio of 18.31, a P/E/G ratio of 2.95 and a beta of 0.78. The company has a 50 day simple moving average of $35.24 and a two-hundred day simple moving average of $30.49. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70. Rogers Communication, Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $39.33.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 net margin of 7.33% and a return on equity of 21.59%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. Research analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 8th were given a dividend of $0.3672 per share. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, September 8th. This represents a $1.47 annualized dividend and a dividend yield of 4.0%. Rogers Communication’s payout ratio is 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.