Rogers Communication, Inc. $RCI Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. lessened its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 8.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 587,985 shares of the Wireless communications provider’s stock after selling 51,018 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Rogers Communication were worth $22,200,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of RCI. Fiera Capital Corp grew its position in Rogers Communication by 8,881.3% in the fourth quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after acquiring an additional 7,116,744 shares in the last quarter. Morgan Stanley grew its position in Rogers Communication by 138.0% in the fourth quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock valued at $191,681,000 after acquiring an additional 2,945,885 shares in the last quarter. Bank of America Corp DE grew its position in Rogers Communication by 67.8% in the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after acquiring an additional 1,966,476 shares in the last quarter. Caisse de depot et placement du Quebec acquired a new stake in Rogers Communication in the third quarter valued at approximately $47,082,000. Finally, TD Asset Management Inc grew its position in Rogers Communication by 18.0% in the third 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. Institutional investors and hedge funds own 45.49% of the company’s stock.

Wall Street Analysts Forecast Growth

RCI has been the subject of several recent research reports. TD Securities downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Finally, Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Four 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. Based on data from MarketBeat, Rogers Communication presently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Performance

Rogers Communication stock opened at $38.54 on Monday. The stock has a market cap of $20.82 billion, a P/E ratio of 4.07, a price-to-earnings-growth ratio of 3.39 and a beta of 0.62. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a 50 day moving average of $36.03 and a 200-day moving average of $37.23. Rogers Communication, Inc. has a 52 week low of $27.20 and a 52 week high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. On average, analysts expect that Rogers Communication, Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is 15.30%.

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.