TD Waterhouse Canada Inc. Sells 267,288 Shares of Rogers Communications Inc. (NYSE:RCI)

TD Waterhouse Canada Inc. reduced its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 11.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,154,482 shares of the Wireless communications provider's stock after selling 267,288 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.40% of Rogers Communications worth $65,886,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCI. Lindbrook Capital LLC lifted its position in Rogers Communications by 95.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock valued at $47,000 after purchasing an additional 744 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after acquiring an additional 1,052 shares during the last quarter. Headlands Technologies LLC raised its position in Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after purchasing an additional 3,888 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Rogers Communications by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock valued at $178,000 after purchasing an additional 930 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Rogers Communications in the 3rd quarter worth approximately $248,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RCI. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Finally, Canaccord Genuity Group raised Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $67.00.

Rogers Communications Stock Down 0.4 %

Shares of RCI stock traded down $0.09 during mid-day trading on Friday, hitting $25.15. The stock had a trading volume of 1,312,898 shares, compared to its average volume of 1,192,628. Rogers Communications Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The firm's 50-day moving average is $26.74 and its two-hundred day moving average is $30.82. The firm has a market capitalization of $13.48 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The business had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. On average, analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be issued a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.74%. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's dividend payout ratio is currently 59.48%.

Rogers Communications Company 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.