Lighthouse Investment Partners LLC Raises Holdings in Rogers Communications Inc. (NYSE:RCI)

Lighthouse Investment Partners LLC lifted its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 226.9% during the second quarter, Holdings Channel reports. The institutional investor owned 15,970 shares of the Wireless communications provider’s stock after purchasing an additional 11,084 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Rogers Communications were worth $590,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RCI. Gold Investment Management Ltd. boosted its position in shares of Rogers Communications by 1.3% during the 1st quarter. Gold Investment Management Ltd. now owns 21,085 shares of the Wireless communications provider’s stock worth $864,000 after purchasing an additional 270 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of Rogers Communications by 13.4% in the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock valued at $111,000 after purchasing an additional 322 shares during the period. First Affirmative Financial Network boosted its holdings in Rogers Communications by 11.2% during the second quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider’s stock worth $239,000 after buying an additional 649 shares in the last quarter. JTC Employer Solutions Trustee Ltd grew its position in Rogers Communications by 0.8% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 98,478 shares of the Wireless communications provider’s stock worth $4,065,000 after buying an additional 807 shares during the period. Finally, Tobam grew its holdings in shares of Rogers Communications by 6.3% in the 2nd quarter. Tobam now owns 14,995 shares of the Wireless communications provider’s stock worth $555,000 after acquiring an additional 891 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Ratings Changes

RCI has been the subject of several research reports. Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. BMO Capital Markets raised their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, TD Securities upped their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications Trading Up 0.4 %

Rogers Communications stock opened at $40.24 on Friday. The stock has a 50-day moving average price of $39.73 and a 200 day moving average price of $39.21. Rogers Communications Inc. has a 52 week low of $35.55 and a 52 week high of $48.19. The stock has a market cap of $21.33 billion, a PE ratio of 50.30, a P/E/G ratio of 1.06 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. Equities research analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be paid a $0.365 dividend. The ex-dividend date is Monday, September 9th. This represents a $1.46 annualized dividend and a yield of 3.63%. Rogers Communications’s payout ratio is currently 185.00%.

Rogers Communications Company 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.