Rogers Communication, Inc. $RCI Shares Acquired by QV Investors Inc.

QV Investors Inc. raised its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 31.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,076,059 shares of the Wireless communications provider’s stock after purchasing an additional 257,096 shares during the period. Rogers Communication makes up about 2.4% of QV Investors Inc.’s investment portfolio, making the stock its 15th biggest holding. QV Investors Inc.’s holdings in Rogers Communication were worth $33,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nykredit A S bought a new position in Rogers Communication during the second quarter worth about $1,847,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Rogers Communication by 277.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider’s stock worth $12,208,000 after buying an additional 233,449 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in shares of Rogers Communication by 4.2% during the first quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider’s stock valued at $38,117,000 after acquiring an additional 39,638 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Rogers Communication in the second quarter valued at about $1,395,000. Finally, Bank of New York Mellon Corp grew its stake in Rogers Communication by 30.7% during the first quarter. Bank of New York Mellon Corp now owns 426,113 shares of the Wireless communications provider’s stock worth $16,384,000 after buying an additional 100,162 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Rogers Communication Price Performance

Shares of RCI opened at $32.26 on Wednesday. The firm has a market capitalization of $17.42 billion, a PE ratio of 3.90, a PEG ratio of 3.98 and a beta of 0.65. The company’s 50-day moving average is $34.23 and its 200-day moving average is $34.88. Rogers Communication, Inc. has a fifty-two week low of $29.25 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. Rogers Communication’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. Equities analysts forecast that Rogers Communication, Inc. will post 3.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research note on Tuesday. Raymond James Financial assumed coverage on Rogers Communication in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. Wall Street Zen cut shares of Rogers Communication from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings downgraded shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.