Hillsdale Investment Management Inc. Boosts Position in Rogers Communication, Inc. $RCI

Hillsdale Investment Management Inc. boosted its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 4.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 991,365 shares of the Wireless communications provider’s stock after purchasing an additional 39,638 shares during the quarter. Rogers Communication comprises approximately 1.0% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 21st biggest position. Hillsdale Investment Management Inc.’s holdings in Rogers Communication were worth $38,117,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. raised its holdings in Rogers Communication by 1.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,446,406 shares of the Wireless communications provider’s stock worth $92,242,000 after purchasing an additional 32,872 shares in the last quarter. DigitalBridge Group Inc. raised its stake in Rogers Communication by 33.5% during the 3rd quarter. DigitalBridge Group Inc. now owns 1,159,502 shares of the Wireless communications provider’s stock worth $39,968,000 after acquiring an additional 290,871 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in Rogers Communication by 66.8% during the 4th quarter. Swiss Life Asset Management Ltd now owns 90,206 shares of the Wireless communications provider’s stock worth $3,406,000 after acquiring an additional 36,114 shares in the last quarter. Lorne Steinberg Wealth Management Inc. lifted its position in Rogers Communication by 23.8% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 160,009 shares of the Wireless communications provider’s stock valued at $6,048,000 after acquiring an additional 30,802 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in Rogers Communication in the third quarter valued at $2,090,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on RCI. Desjardins restated a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. TD Securities downgraded Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Trading Up 1.3%

Shares of Rogers Communication stock opened at $33.37 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. The company has a market capitalization of $18.03 billion, a P/E ratio of 3.52, a PEG ratio of 3.99 and a beta of 0.64. Rogers Communication, Inc. has a 1 year low of $31.38 and a 1 year high of $41.14. The company’s fifty day moving average is $36.04 and its two-hundred day moving average is $36.80.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts forecast that Rogers Communication, Inc. will post 3.37 earnings per share for the current year.

Rogers Communication Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.0%. The ex-dividend date was Tuesday, June 9th. Rogers Communication’s payout ratio is 15.30%.

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.