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

Key Points

• TD Waterhouse Canada Inc. raised its Rogers stake by 1.4% in Q4, buying 32,872 shares to hold 2,446,406 shares (about 0.45% of the company) worth roughly $92.24 million.
• Several other institutions also increased positions (e.g., TD Asset Management +18%, Bank of America +67.8%), leaving institutional and hedge fund ownership at 45.49%.
• Rogers beat EPS estimates ($1.08 vs. $0.98) but missed revenue expectations ($4.49B vs. $5.94B); the stock trades at a P/E of 3.6, market cap ~$17.97B, and pays a $2.00 annualized dividend (~6.0% yield).

TD Waterhouse Canada Inc. lifted its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,446,406 shares of the Wireless communications provider's stock after buying an additional 32,872 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.45% of Rogers Communication worth $92,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its position in shares of Rogers Communication by 2.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider's stock worth $340,428,000 after buying an additional 282,609 shares in the last quarter. Bank of Nova Scotia lifted its stake in Rogers Communication by 2.3% during the third quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider's stock worth $291,526,000 after purchasing an additional 186,510 shares during the last quarter. TD Asset Management Inc lifted its stake in Rogers Communication by 18.0% during the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider's stock worth $287,340,000 after purchasing an additional 1,272,065 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Rogers Communication by 7.0% during the third quarter. Mackenzie Financial Corp now owns 8,161,532 shares of the Wireless communications provider's stock worth $280,904,000 after purchasing an additional 536,623 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Rogers Communication by 67.8% during the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider's stock worth $167,765,000 after purchasing an additional 1,966,476 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communication Price Performance

RCI stock opened at $33.26 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. Rogers Communication, Inc. has a fifty-two week low of $24.67 and a fifty-two week high of $41.14. The business has a 50 day moving average price of $37.67 and a 200 day moving average price of $37.44. The stock has a market cap of $17.97 billion, a price-to-earnings ratio of 3.60, a PEG ratio of 5.90 and a beta of 0.72.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.10. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $5.94 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th were paid a $0.50 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a yield of 6.0%. Rogers Communication's payout ratio is currently 15.89%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RCI shares. TD Cowen restated a "buy" rating on shares of Rogers Communication in a research note on Friday, January 30th. TD Securities cut Rogers Communication from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Barclays restated a "positive" rating and set a $37.00 target price on shares of Rogers Communication in a research note on Tuesday, January 27th. Royal Bank Of Canada restated an "outperform" rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Finally, Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a research note on Monday, January 12th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $36.00.

Rogers Communication Company Profile

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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