Guardian Capital LP Increases Stock Position in Rogers Communication, Inc. $RCI

Guardian Capital LP increased its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 5.3% during the third quarter, Holdings Channel.com reports. The firm owned 623,545 shares of the Wireless communications provider’s stock after buying an additional 31,301 shares during the period. Guardian Capital LP’s holdings in Rogers Communication were worth $21,470,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its stake in Rogers Communication by 15.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock worth $284,981,000 after buying an additional 1,255,794 shares in the last quarter. TD Asset Management Inc boosted its position in 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 valued at $287,340,000 after acquiring an additional 1,272,065 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Rogers Communication by 3.5% in the 2nd quarter. Bank of Nova Scotia now owns 8,279,443 shares of the Wireless communications provider’s stock valued at $245,489,000 after acquiring an additional 280,536 shares during the period. Letko Brosseau & Associates Inc. increased its holdings in shares of Rogers Communication by 14.8% in 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 acquiring an additional 868,800 shares during the period. Finally, Burgundy Asset Management Ltd. raised its position in shares of 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 worth $123,528,000 after acquiring an additional 662,594 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Securities restated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rogers Communication in a research note on Friday, December 26th. Desjardins lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

Rogers Communication Stock Down 0.7%

Rogers Communication stock opened at $40.31 on Friday. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.14. The business has a fifty day moving average price of $37.73 and a 200-day moving average price of $37.15. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. The stock has a market capitalization of $21.78 billion, a price-to-earnings ratio of 4.36, a PEG ratio of 5.37 and a beta of 0.74.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the company posted $1.46 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Announces Dividend

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

Rogers Communication Profile

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.