Stock Traders Purchase High Volume of Rogers Communication Call Options (NYSE:RCI)

by · The Cerbat Gem

Rogers Communication, Inc. (NYSE:RCIGet Free Report) (TSE:RCI.B) saw some unusual options trading activity on Friday. Stock investors bought 4,476 call options on the stock. This is an increase of approximately 906% compared to the typical volume of 445 call options.

Analysts Set New Price Targets

Several research analysts have commented on RCI shares. Desjardins reissued a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Rogers Communication in a research report on Wednesday, June 17th. TD Securities lowered Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

View Our Latest Stock Analysis on Rogers Communication

Rogers Communication Price Performance

RCI stock traded up $0.54 during mid-day trading on Friday, hitting $33.39. 387,270 shares of the stock were exchanged, compared to its average volume of 1,208,183. The business has a fifty day moving average price of $36.17 and a 200 day moving average price of $36.85. Rogers Communication has a 12 month low of $31.38 and a 12 month high of $41.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.53. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of 3.52, a PEG ratio of 3.97 and a beta of 0.64.

Rogers Communication (NYSE:RCIGet Free Report) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. On average, sell-side analysts anticipate that Rogers Communication will post 3.37 EPS for the current year.

Rogers Communication Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.00 annualized dividend and a yield of 6.0%. Rogers Communication’s payout ratio is currently 15.30%.

Institutional Investors Weigh In On Rogers Communication

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its position in shares of Rogers Communication by 52.3% in the 2nd quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider’s stock worth $27,724,000 after buying an additional 321,124 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in 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 worth $59,000 after acquiring an additional 683 shares during the period. Marshall Wace LLP boosted its holdings in Rogers Communication by 36.5% in the second quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider’s stock valued at $1,103,000 after acquiring an additional 9,951 shares in the last quarter. Cerity Partners LLC increased its position in Rogers Communication by 7.0% during the 2nd quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock valued at $326,000 after purchasing an additional 724 shares during the period. Finally, AXA S.A. raised its holdings in Rogers Communication by 231.1% in the 2nd quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider’s stock worth $1,481,000 after purchasing an additional 34,860 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

About Rogers Communication

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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.

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