AGF Management Ltd. Increases Stake in Rogers Communications Inc. (NYSE:RCI)

by · The Markets Daily

AGF Management Ltd. increased its position in shares of Rogers Communications Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,779,212 shares of the Wireless communications provider’s stock after buying an additional 117,117 shares during the period. AGF Management Ltd. owned about 0.52% of Rogers Communications worth $85,405,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RCI. National Bank of Canada FI grew its stake in Rogers Communications by 18.6% in the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after purchasing an additional 977,924 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after purchasing an additional 3,980,525 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Rogers Communications by 90.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock valued at $115,775,000 after purchasing an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Rogers Communications by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock valued at $104,965,000 after purchasing an additional 1,211,482 shares during the last quarter. Finally, FMR LLC grew its stake in Rogers Communications by 2.8% in the third quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider’s stock valued at $100,372,000 after purchasing an additional 68,759 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RCI shares. Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Morgan Stanley initiated coverage on Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.75.

Get Our Latest Analysis on Rogers Communications

Rogers Communications Trading Down 1.7 %

Shares of NYSE:RCI opened at $27.96 on Tuesday. Rogers Communications Inc. has a 12-month low of $26.57 and a 12-month high of $44.38. The company has a market capitalization of $14.94 billion, a PE ratio of 12.05, a PEG ratio of 1.43 and a beta of 0.67. The business has a 50 day moving average of $28.52 and a two-hundred day moving average of $34.10. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. As a group, analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be given a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is presently 59.48%.

Rogers Communications Profile

(Free Report)

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.

Further Reading

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