TD Asset Management Inc Raises Stock Position in Rogers Communication, Inc. $RCI

TD Asset Management Inc increased its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 2.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,540,114 shares of the Wireless communications provider’s stock after acquiring an additional 195,189 shares during the quarter. TD Asset Management Inc owned approximately 1.58% of Rogers Communication worth $322,789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in Rogers Communication by 107.4% in the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock worth $30,000 after acquiring an additional 407 shares in the last quarter. Headlands Technologies LLC increased its holdings in Rogers Communication by 143.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after acquiring an additional 978 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Rogers Communication in the 3rd quarter worth $58,000. EverSource Wealth Advisors LLC grew its holdings 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 in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Rogers Communication during the third quarter worth $63,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Price Performance

Rogers Communication stock opened at $37.82 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. Rogers Communication, Inc. has a 52-week low of $26.30 and a 52-week high of $41.14. The company has a fifty day simple moving average of $36.09 and a 200-day simple moving average of $37.23. The firm has a market capitalization of $20.43 billion, a price-to-earnings ratio of 3.99, a PEG ratio of 3.36 and a beta of 0.62.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Rogers Communication’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Rogers Communication, Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. Rogers Communication’s dividend payout ratio is currently 15.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RCI shares. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a report on Thursday, April 23rd. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.