332,725 Rogers Communication, Inc. $RCI Shares Acquired by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Rogers Communications stake by 7.1%, purchasing 332,725 shares and bringing its holdings to 5.04 million shares valued at approximately $155.5 million. Institutional investors and hedge funds collectively own 45.49% of the company.
• Analyst sentiment remains positive overall, with six Buy ratings, two Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $35.00.
• Rogers reported quarterly revenue of $3.95 billion and EPS of $0.83, exceeding estimates, while maintaining a quarterly dividend of C$0.50, equivalent to a 6.3% annualized yield.

TD Waterhouse Canada Inc. boosted its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,037,804 shares of the Wireless communications provider's stock after purchasing an additional 332,725 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.93% of Rogers Communication worth $155,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nykredit A S bought a new stake in shares of Rogers Communication during the 2nd quarter worth about $1,847,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Rogers Communication by 277.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider's stock valued at $12,208,000 after buying an additional 233,449 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in Rogers Communication by 4.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider's stock valued at $38,117,000 after acquiring an additional 39,638 shares during the period. Public Employees Retirement System of Ohio bought a new position in Rogers Communication in the 2nd quarter valued at about $1,395,000. Finally, Bank of New York Mellon Corp lifted its position in Rogers Communication by 30.7% during the first quarter. Bank of New York Mellon Corp now owns 426,113 shares of the Wireless communications provider's stock worth $16,384,000 after acquiring an additional 100,162 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RCI shares. Weiss Ratings cut Rogers Communication from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. TD Securities reiterated a "buy" rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Wall Street Zen cut Rogers Communication from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd. Desjardins upgraded Rogers Communication from a "hold" rating to a "buy" rating in a research note on Monday, September 14th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Rogers Communication in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.00.

Rogers Communication Stock Performance

NYSE:RCI traded up $0.02 during mid-day trading on Friday, reaching $31.95. 1,196,838 shares of the company's stock were exchanged, compared to its average volume of 1,664,462. Rogers Communication, Inc. has a one year low of $29.25 and a one year high of $41.14. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55. The business's fifty day simple moving average is $34.36 and its two-hundred day simple moving average is $35.00. The firm has a market capitalization of $17.26 billion, a PE ratio of 3.86, a price-to-earnings-growth ratio of 4.02 and a beta of 0.65.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate that Rogers Communication, Inc. will post 3.24 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 8th were paid a C$0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Tuesday, September 8th. Rogers Communication's payout ratio is 17.39%.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers' telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.

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