Tobam Buys 22,433 Shares of Rogers Communication, Inc. $RCI

Tobam boosted its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 85.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 48,541 shares of the Wireless communications provider’s stock after buying an additional 22,433 shares during the period. Tobam’s holdings in Rogers Communication were worth $1,831,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Fiera Capital Corp lifted its stake in Rogers Communication by 8,881.3% in the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock worth $271,751,000 after purchasing an additional 7,116,744 shares in the last quarter. Morgan Stanley increased its holdings in shares of Rogers Communication by 138.0% in the fourth quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock worth $191,681,000 after purchasing an additional 2,945,885 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of 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 purchased a new stake in shares of Rogers Communication in the third quarter worth about $47,082,000. Finally, TD Asset Management Inc lifted its position in shares of Rogers Communication by 18.0% in 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 buying an additional 1,272,065 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Stock Up 0.0%

NYSE RCI opened at $37.57 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The company has a fifty day moving average of $36.40 and a two-hundred day moving average of $37.20. The firm has a market capitalization of $20.30 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 3.30 and a beta of 0.62. Rogers Communication, Inc. has a 52 week low of $27.56 and a 52 week high of $41.14.

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

Rogers Communication Announces Dividend

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

Analyst Ratings Changes

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