Pinebridge Investments L.P. Takes Position in Rogers Communications Inc. (NYSE:RCI)

Pinebridge Investments L.P. purchased a new stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,683 shares of the Wireless communications provider’s stock, valued at approximately $1,099,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of Rogers Communications by 34.2% in the first quarter. Signaturefd LLC now owns 1,780 shares of the Wireless communications provider’s stock valued at $96,000 after buying an additional 454 shares in the last quarter. Neuburgh Advisers LLC raised its position in shares of Rogers Communications by 12.2% in the second quarter. Neuburgh Advisers LLC now owns 2,352 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 256 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of Rogers Communications by 12.2% in the second quarter. Glen Harbor Capital Management LLC now owns 3,234 shares of the Wireless communications provider’s stock valued at $166,000 after buying an additional 352 shares in the last quarter. Sound View Wealth Advisors LLC acquired a new stake in shares of Rogers Communications in the first quarter valued at approximately $202,000. Finally, Riverhead Capital Management LLC raised its position in shares of Rogers Communications by 11.9% in the second quarter. Riverhead Capital Management LLC now owns 3,765 shares of the Wireless communications provider’s stock valued at $194,000 after buying an additional 400 shares in the last quarter. Institutional investors own 51.24% of the company’s stock.

Several research analysts have commented on RCI shares. JPMorgan Chase & Co. downgraded shares of Rogers Communications from a “neutral” rating to an “underweight” rating in a research report on Monday, July 8th. ValuEngine downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Echelon Wealth Partners upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Zacks Investment Research downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a research report on Friday, July 26th. Finally, BMO Capital Markets lowered their price objective on shares of Rogers Communications from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.18.

RCI traded down $0.28 during trading on Friday, hitting $50.09. 7,094 shares of the stock traded hands, compared to its average volume of 366,512. Rogers Communications Inc. has a twelve month low of $48.56 and a twelve month high of $55.93. The company has a market cap of $26.03 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.00 and a beta of 0.55. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.79 and a quick ratio of 0.71. The business has a 50 day moving average price of $50.63 and a 200 day moving average price of $52.25.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Tuesday, July 23rd. The Wireless communications provider reported $0.87 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.02). The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.87 billion. Rogers Communications had a net margin of 13.79% and a return on equity of 26.66%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. On average, equities research analysts predict that Rogers Communications Inc. will post 3.39 earnings per share for the current year.

Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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