TD Waterhouse Canada Inc. Acquires 304,819 Shares of Rogers Communication, Inc. $RCI

TD Waterhouse Canada Inc. increased its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 12.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,820,450 shares of the Wireless communications provider’s stock after acquiring an additional 304,819 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.52% of Rogers Communication worth $85,602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Rogers Communication by 303.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider’s stock valued at $148,047,000 after purchasing an additional 4,166,861 shares during the last quarter. Platinum Investment Management Ltd. bought a new position in Rogers Communication during the 2nd quarter valued at approximately $77,687,000. Canada Pension Plan Investment Board increased its position in Rogers Communication by 373.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider’s stock valued at $76,671,000 after buying an additional 2,263,859 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Rogers Communication by 380.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,348,091 shares of the Wireless communications provider’s stock valued at $62,717,000 after buying an additional 1,859,288 shares during the last quarter. Finally, Canoe Financial LP boosted its holdings in Rogers Communication by 550.0% in the second quarter. Canoe Financial LP now owns 1,421,228 shares of the Wireless communications provider’s stock worth $42,186,000 after acquiring an additional 1,202,579 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RCI. Cowen restated a “buy” rating on shares of Rogers Communication in a report on Friday, October 24th. Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a research report on Monday, October 20th. Barclays raised their price objective on shares of Rogers Communication from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rogers Communication has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Price Performance

RCI opened at $38.54 on Wednesday. The company’s 50-day simple moving average is $36.86 and its two-hundred day simple moving average is $32.98. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.59 and a current ratio of 0.62. The stock has a market capitalization of $20.82 billion, a P/E ratio of 4.28, a P/E/G ratio of 3.29 and a beta of 0.81. Rogers Communication, Inc. has a 52-week low of $23.18 and a 52-week high of $40.26.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. Rogers Communication had a net margin of 32.49% and a return on equity of 17.14%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the business posted $1.42 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts predict that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.