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

Hillsdale Investment Management Inc. acquired a new position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 606,717 shares of the Wireless communications provider’s stock, valued at approximately $20,881,000. Hillsdale Investment Management Inc. owned 0.11% of Rogers Communication as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC raised its position in Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after acquiring an additional 978 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Rogers Communication by 106.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock worth $58,000 after purchasing an additional 1,005 shares in the last quarter. MAI Capital Management raised its holdings 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. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 683 shares in the last quarter. Finally, Tobam grew its holdings in Rogers Communication by 148.6% during the second quarter. Tobam now owns 4,005 shares of the Wireless communications provider’s stock valued at $119,000 after purchasing an additional 2,394 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Trading Up 0.4%

Shares of RCI opened at $38.37 on Friday. The firm has a market cap of $20.73 billion, a P/E ratio of 4.15, a price-to-earnings-growth ratio of 5.06 and a beta of 0.74. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $40.26. The company has a 50 day simple moving average of $37.14 and a two-hundred day simple moving average of $36.76.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. Rogers Communication’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the company posted $1.46 earnings per share. On average, equities analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on RCI shares. Desjardins downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a research note on Wednesday, December 10th. Barclays reaffirmed a “positive” rating and set a $37.00 price target on shares of Rogers Communication in a report on Tuesday, January 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a research note on Friday, December 26th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rogers Communication currently has a consensus rating of “Hold” and an average target price of $36.00.

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.