Rogers Communication, Inc. $RCI Shares Bought by TD Asset Management Inc

TD Asset Management Inc raised its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,540,114 shares of the Wireless communications provider’s stock after buying an additional 195,189 shares during the quarter. TD Asset Management Inc’s holdings in Rogers Communication were worth $322,789,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 407 shares during the last quarter. Headlands Technologies LLC lifted its position in Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock valued at $49,000 after buying an additional 978 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Rogers Communication in the third quarter valued at about $58,000. Advisory Services Network LLC acquired a new position in Rogers Communication in the third quarter valued at about $63,000. Finally, Danske Bank A S acquired a new position in Rogers Communication in the third quarter valued at about $64,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Down 1.0%

Shares of RCI opened at $37.82 on Thursday. The stock has a market capitalization of $20.43 billion, a PE ratio of 3.99, a P/E/G ratio of 3.36 and a beta of 0.62. Rogers Communication, Inc. has a 1 year low of $26.30 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. The company’s 50-day simple moving average is $36.09 and its 200-day simple moving average is $37.23.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. Analysts forecast that Rogers Communication, Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is currently 15.51%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Finally, TD Securities cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.