HAP Trading LLC Makes New Investment in Rogers Communication, Inc. $RCI

HAP Trading LLC bought a new position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 22,000 shares of the Wireless communications provider’s stock, valued at approximately $653,000.

A number of other large investors also recently made changes to their positions in RCI. Headlands Technologies LLC grew its position in Rogers Communication by 143.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Rogers Communication by 106.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock worth $58,000 after buying an additional 1,005 shares in the last quarter. MAI Capital Management boosted its stake in shares of Rogers Communication by 30.5% in the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock worth $58,000 after buying an additional 458 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after acquiring an additional 683 shares in the last quarter. Finally, Tobam increased its position in shares of Rogers Communication by 148.6% during the second 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 during the last quarter. 45.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley reissued an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Wall Street Zen downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Barclays restated a “positive” rating and set a $37.00 price objective on shares of Rogers Communication in a report on Tuesday, January 27th. Finally, TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Stock Up 0.3%

RCI stock opened at $40.49 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.57 and a current ratio of 0.61. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 4.38, a PEG ratio of 5.34 and a beta of 0.74. Rogers Communication, Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.14. The stock has a fifty day moving average of $37.61 and a 200-day moving average of $37.09.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS. As a group, equities research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.00 annualized dividend and a dividend yield of 4.9%. Rogers Communication’s payout ratio is 15.46%.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.