Hillsdale Investment Management Inc. Invests $20.88 Million in Rogers Communication, Inc. $RCI

Hillsdale Investment Management Inc. bought a new stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) in the third quarter, HoldingsChannel.com reports. The fund bought 606,717 shares of the Wireless communications provider’s stock, valued at approximately $20,881,000.

Other hedge funds also recently bought and sold shares of the company. MAI Capital Management lifted its position in Rogers Communication by 30.5% during the second quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 458 shares during the last quarter. Gold Investment Management Ltd. raised its position in shares of Rogers Communication by 2.1% during the 3rd quarter. Gold Investment Management Ltd. now owns 29,233 shares of the Wireless communications provider’s stock valued at $1,007,000 after buying an additional 590 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Rogers Communication by 1.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock valued at $1,101,000 after acquiring an additional 640 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 683 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Rogers Communication by 7.0% during the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock worth $326,000 after acquiring an additional 724 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Performance

RCI stock opened at $38.37 on Friday. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $40.26. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 4.15, a PEG ratio of 5.06 and a beta of 0.74. The business’s fifty day simple moving average is $37.14 and its two-hundred day simple moving average is $36.76. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. Analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is currently 15.46%.

Analyst Upgrades and Downgrades

RCI has been the subject of several analyst reports. Wall Street Zen lowered Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Desjardins downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a report on Monday, January 12th. Finally, TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Five 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.