Bank of Nova Scotia Purchases 280,536 Shares of Rogers Communication, Inc. $RCI

Bank of Nova Scotia lifted its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 3.5% in the 2nd quarter, Holdings Channel reports. The fund owned 8,279,443 shares of the Wireless communications provider’s stock after buying an additional 280,536 shares during the quarter. Bank of Nova Scotia’s holdings in Rogers Communication were worth $245,489,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in RCI. Arrowstreet Capital Limited Partnership lifted its holdings in Rogers Communication by 15.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock valued at $284,981,000 after purchasing an additional 1,255,794 shares during the last quarter. TD Asset Management Inc raised its position in shares of Rogers Communication by 9.2% in the second quarter. TD Asset Management Inc now owns 7,072,860 shares of the Wireless communications provider’s stock valued at $209,361,000 after purchasing an additional 594,471 shares during the period. Letko Brosseau & Associates Inc. lifted its stake in shares of Rogers Communication by 14.8% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock valued at $199,922,000 after buying an additional 868,800 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Rogers Communication by 303.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider’s stock worth $148,047,000 after buying an additional 4,166,861 shares during the period. Finally, Burgundy Asset Management Ltd. grew its stake in Rogers Communication by 18.9% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,172,546 shares of the Wireless communications provider’s stock valued at $123,528,000 after buying an additional 662,594 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Up 0.1%

Shares of NYSE RCI opened at $37.58 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55. The business has a 50-day moving average of $37.63 and a 200-day moving average of $34.16. The firm has a market capitalization of $20.30 billion, a price-to-earnings ratio of 4.18, a PEG ratio of 3.47 and a beta of 0.74. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $40.26.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. Rogers Communication had a net margin of 32.49% and a return on equity of 17.14%. The business 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. Rogers Communication’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on RCI shares. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research report on Monday, October 20th. Cowen reiterated a “buy” rating on shares of Rogers Communication in a research note on Monday, December 1st. Barclays raised their target price on Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Rogers Communication in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.00.

About Rogers Communication

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.