Frank Rimerman Advisors LLC Makes New Investment in Rogers Communication, Inc. $RCI

Frank Rimerman Advisors LLC bought a new position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,945 shares of the Wireless communications provider’s stock, valued at approximately $710,000.

Several other hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. raised its position in shares of Rogers Communication by 106.2% in the second quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock valued at $58,000 after buying an additional 1,005 shares in the last quarter. Parallel Advisors LLC grew its position in Rogers Communication by 176.9% during the second quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider’s stock worth $86,000 after buying an additional 1,847 shares in the last quarter. CWM LLC increased its stake in Rogers Communication by 57.4% during the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock worth $100,000 after acquiring an additional 1,363 shares during the period. Tobam raised its holdings in Rogers Communication by 148.6% in the 2nd 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 in the last quarter. Finally, 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 acquiring an additional 1,389 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research report on Monday, October 20th. Cowen reiterated a “buy” rating on shares of Rogers Communication in a research note on Friday, October 24th. Finally, Barclays boosted their target price on shares of Rogers Communication from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Performance

NYSE:RCI opened at $38.33 on Thursday. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $40.26. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 1.55. The stock’s 50-day simple moving average is $36.92 and its 200 day simple moving average is $33.02. The firm has a market capitalization of $20.71 billion, a PE ratio of 4.26, a price-to-earnings-growth ratio of 3.29 and a beta of 0.81.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.92 by $0.07. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $5.33 billion. Rogers Communication had a return on equity of 17.14% and a net margin of 32.49%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. On average, analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication 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.