Massachusetts Financial Services Co. MA Reduces Position in Rogers Communication, Inc. $RCI

Massachusetts Financial Services Co. MA lowered its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 54.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,202,287 shares of the Wireless communications provider’s stock after selling 1,436,599 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.22% of Rogers Communication worth $41,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. TD Private Client Wealth LLC raised its position in Rogers Communication by 6.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 5,461 shares of the Wireless communications provider’s stock valued at $162,000 after purchasing an additional 330 shares during the last quarter. MAI Capital Management increased its stake in Rogers Communication by 30.5% in the second quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 458 shares during the period. Gold Investment Management Ltd. increased its stake in Rogers Communication by 2.1% in the third quarter. Gold Investment Management Ltd. now owns 29,233 shares of the Wireless communications provider’s stock valued at $1,007,000 after purchasing an additional 590 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Rogers Communication by 1.8% in the second quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock valued at $1,101,000 after buying an additional 640 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Rogers Communication by 52.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after buying an additional 683 shares during the period. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Stock Up 0.5%

Rogers Communication stock opened at $36.72 on Thursday. The stock’s 50 day moving average price is $37.31 and its 200 day moving average price is $36.15. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $40.26. The company has a market cap of $19.83 billion, a PE ratio of 4.08, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.62 and a quick ratio of 0.59.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share (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 analysts’ expectations of $5.33 billion. Rogers Communication had a return on equity of 17.14% and a net margin of 32.49%.Rogers Communication’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.42 earnings per share. On average, sell-side analysts predict that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on RCI shares. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. Wall Street Zen raised Rogers Communication from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a research report on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a research note on Friday, December 26th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.00.

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.