Toronto Dominion Bank Sells 2,165,620 Shares of Rogers Communications Inc. (NYSE:RCI)

Toronto Dominion Bank decreased its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 34.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,137,751 shares of the Wireless communications provider's stock after selling 2,165,620 shares during the quarter. Toronto Dominion Bank owned approximately 0.78% of Rogers Communications worth $166,379,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Rogers Communications by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 247,834 shares of the Wireless communications provider's stock valued at $10,161,000 after purchasing an additional 6,221 shares during the period. CWM LLC boosted its stake in Rogers Communications by 342.3% in the second quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider's stock valued at $67,000 after acquiring an additional 1,400 shares during the last quarter. Lorne Steinberg Wealth Management Inc. raised its position in shares of Rogers Communications by 8.5% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 90,959 shares of the Wireless communications provider's stock valued at $3,363,000 after acquiring an additional 7,103 shares during the last quarter. Monarch Capital Management Inc. raised its position in shares of Rogers Communications by 12.7% during the 2nd quarter. Monarch Capital Management Inc. now owns 38,693 shares of the Wireless communications provider's stock valued at $1,438,000 after acquiring an additional 4,360 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Rogers Communications by 39.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 571,923 shares of the Wireless communications provider's stock valued at $21,150,000 after purchasing an additional 160,768 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communications Trading Down 1.2 %

RCI stock traded down $0.40 during midday trading on Wednesday, hitting $34.13. 352,897 shares of the company's stock were exchanged, compared to its average volume of 791,094. Rogers Communications Inc. has a one year low of $33.80 and a one year high of $48.19. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The company has a market cap of $18.24 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.09 and a beta of 0.67. The stock's fifty day moving average price is $36.86 and its 200-day moving average price is $38.22.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. Rogers Communications's quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. Research analysts predict that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.23%. Rogers Communications's payout ratio is 72.20%.

Analyst Ratings Changes

RCI has been the subject of a number of recent analyst reports. TD Securities upped their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, September 19th. BMO Capital Markets upped their price target on Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Rogers Communications currently has an average rating of "Moderate Buy" and an average price target of $61.75.

Rogers Communications 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.