Sequoia Financial Advisors LLC Makes New $328,000 Investment in Rogers Communication, Inc. $RCI

Sequoia Financial Advisors LLC purchased a new position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) in the second quarter, Holdings Channel reports. The fund purchased 11,058 shares of the Wireless communications provider’s stock, valued at approximately $328,000.

A number of other institutional investors also recently bought and sold shares of the business. Oppenheimer & Co. Inc. purchased a new position in shares of Rogers Communication during the 1st quarter valued at approximately $273,000. Value Partners Investments Inc. increased its holdings in shares of Rogers Communication by 1,252.8% during the 1st quarter. Value Partners Investments Inc. now owns 2,312,136 shares of the Wireless communications provider’s stock valued at $61,808,000 after purchasing an additional 2,141,227 shares in the last quarter. Gold Investment Management Ltd. increased its holdings in shares of Rogers Communication by 58.7% during the 1st quarter. Gold Investment Management Ltd. now owns 30,002 shares of the Wireless communications provider’s stock valued at $802,000 after purchasing an additional 11,092 shares in the last quarter. Meritage Portfolio Management purchased a new position in shares of Rogers Communication during the 1st quarter valued at approximately $1,788,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Rogers Communication by 64.6% during the 1st quarter. Bank of New York Mellon Corp now owns 532,722 shares of the Wireless communications provider’s stock valued at $14,240,000 after purchasing an additional 209,089 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. Barclays lifted their target price 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. BMO Capital Markets reaffirmed an “outperform” rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a report on Monday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.00.

Rogers Communication Price Performance

Shares of NYSE RCI opened at $37.01 on Wednesday. The firm has a market cap of $19.99 billion, a PE ratio of 18.41, a PEG ratio of 2.94 and a beta of 0.78. The firm has a fifty day moving average of $35.68 and a 200 day moving average of $31.00. 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 one year low of $23.18 and a one year high of $39.33.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results 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 analyst estimates of $5.12 billion. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. As a group, research analysts predict 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.