Tobam Increases Stock Position in Rogers Communication, Inc. $RCI

Tobam increased its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 85.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,541 shares of the Wireless communications provider’s stock after purchasing an additional 22,433 shares during the period. Tobam’s holdings in Rogers Communication were worth $1,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fiera Capital Corp lifted its holdings in shares of Rogers Communication by 8,881.3% during the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after buying an additional 7,116,744 shares during the period. Morgan Stanley lifted its holdings in Rogers Communication by 138.0% in the fourth quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock valued at $191,681,000 after acquiring an additional 2,945,885 shares during the period. Bank of America Corp DE boosted its position in Rogers Communication by 67.8% in 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. Caisse de depot et placement du Quebec bought a new stake in shares of Rogers Communication during the 3rd quarter valued at about $47,082,000. Finally, TD Asset Management Inc increased its position in shares of Rogers Communication by 18.0% during the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock valued at $287,340,000 after purchasing an additional 1,272,065 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Up 0.0%

RCI opened at $37.57 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. Rogers Communication, Inc. has a fifty-two week low of $27.56 and a fifty-two week high of $41.14. The firm’s fifty day moving average is $36.40 and its 200 day moving average is $37.20. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 3.30 and a beta of 0.62.

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 analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $3.94 billion during 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%.Rogers Communication’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. On average, sell-side analysts forecast that Rogers Communication, Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 9th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio (DPR) is 15.30%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Securities downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.