CIBC Asset Management Inc Purchases 1,520,062 Shares of Rogers Communication, Inc. $RCI

CIBC Asset Management Inc raised its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 261.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,102,076 shares of the Wireless communications provider’s stock after acquiring an additional 1,520,062 shares during the period. CIBC Asset Management Inc owned about 0.39% of Rogers Communication worth $72,280,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RCI. TD Private Client Wealth LLC boosted its stake in shares of Rogers Communication by 6.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 5,461 shares of the Wireless communications provider’s stock valued at $162,000 after purchasing an additional 330 shares in the last quarter. MAI Capital Management raised its position in Rogers Communication by 30.5% in the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock worth $58,000 after purchasing an additional 458 shares during the period. Gold Investment Management Ltd. lifted its stake in Rogers Communication by 2.1% in the third quarter. Gold Investment Management Ltd. now owns 29,233 shares of the Wireless communications provider’s stock worth $1,007,000 after purchasing an additional 590 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Rogers Communication by 1.8% during the second quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock valued at $1,101,000 after buying an additional 640 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Rogers Communication by 52.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after buying an additional 683 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Stock Performance

NYSE:RCI opened at $36.88 on Friday. The stock has a market cap of $19.92 billion, a P/E ratio of 4.10, a price-to-earnings-growth ratio of 2.78 and a beta of 0.75. The firm’s fifty day simple moving average is $37.25 and its 200 day simple moving average is $36.22. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $40.26. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 1.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 23rd. The Wireless communications provider reported $0.99 EPS for the quarter, topping 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 prior year, the business earned $1.42 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts predict that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

RCI has been the topic of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. Barclays raised their price target on Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. Finally, Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Rogers Communication has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Company 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.