Arrowstreet Capital Limited Partnership Raises Stock Holdings in Rogers Communication, Inc. $RCI
Arrowstreet Capital Limited Partnership increased its stake in Rogers Communication, Inc. by 15% in Q2, owning 1.78% of the company. Analysts have mixed ratings on the stock, with Barclays raising the target price to $36. Rogers reported better-than-expected earnings, with a 4.3% revenue increase year-over-year. The stock opened at $38.94, with a 12-month high of $40.26. Analysts forecast growth, with an average rating of "Hold" and a price target of $36.
Arrowstreet Capital Limited Partnership raised its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 15.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,603,756 shares of the Wireless communications provider's stock after acquiring an additional 1,255,794 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.78% of Rogers Communication worth $284,981,000 as of its most recent SEC filing.
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Other institutional investors have also recently made changes to their positions in the company. Westerkirk Capital Inc. purchased a new position in shares of Rogers Communication during the second quarter valued at approximately $638,000. M&T Bank Corp grew its position in Rogers Communication by 4.7% in the 2nd quarter. M&T Bank Corp now owns 20,668 shares of the Wireless communications provider's stock worth $613,000 after purchasing an additional 929 shares during the period. Scotia Capital Inc. raised its stake in Rogers Communication by 0.6% during the 2nd quarter. Scotia Capital Inc. now owns 4,093,776 shares of the Wireless communications provider's stock valued at $121,237,000 after buying an additional 25,641 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Rogers Communication by 69.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,155 shares of the Wireless communications provider's stock valued at $212,000 after buying an additional 2,924 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its stake in shares of Rogers Communication by 16.6% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 516,939 shares of the Wireless communications provider's stock worth $15,284,000 after buying an additional 73,640 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on RCI. Barclays raised their target price on Rogers Communication from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Monday, November 10th. Cowen reissued a "buy" rating on shares of Rogers Communication in a report on Monday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rogers Communication in a report on Wednesday, October 8th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $36.00.
Read Our Latest Stock Report on RCI
Rogers Communication Stock Down 0.5%
Shares of RCI opened at $38.94 on Tuesday. The business's 50 day moving average is $37.41 and its 200 day moving average is $33.82. The company has a market capitalization of $21.04 billion, a PE ratio of 4.33, a price-to-earnings-growth ratio of 3.29 and a beta of 0.81. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $40.26. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55.
Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.07. The business 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 firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. Research analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.
Rogers Communication Profile
(Free Report)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.
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