Rogers Communication, Inc. $RCI Shares Purchased by Aviso Financial Inc.

Aviso Financial Inc. raised its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 49.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,003 shares of the Wireless communications provider’s stock after acquiring an additional 39,234 shares during the quarter. Aviso Financial Inc.’s holdings in Rogers Communication were worth $4,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of Nova Scotia increased its position in Rogers Communication by 3.5% during the 2nd quarter. Bank of Nova Scotia now owns 8,279,443 shares of the Wireless communications provider’s stock worth $245,489,000 after purchasing an additional 280,536 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Rogers Communication by 261.2% during the 3rd quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock worth $72,280,000 after purchasing an additional 1,520,062 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Rogers Communication by 18.0% during the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after purchasing an additional 1,272,065 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Rogers Communication by 56.1% during the second quarter. Fiera Capital Corp now owns 78,335 shares of the Wireless communications provider’s stock worth $2,322,000 after buying an additional 28,163 shares in the last quarter. Finally, JCIC Asset Management Inc. acquired a new position in shares of Rogers Communication in the third quarter valued at approximately $4,253,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Stock Up 1.2%

Shares of RCI opened at $39.87 on Friday. The firm has a market cap of $21.54 billion, a PE ratio of 4.31, a price-to-earnings-growth ratio of 5.28 and a beta of 0.74. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. The company’s fifty day moving average is $37.39 and its two-hundred day moving average is $36.97. Rogers Communication, Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $40.26.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.10. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period last year, the company posted $1.46 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is 15.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Desjardins lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. TD Cowen reissued a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a report on Monday, January 12th. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.