Hillsdale Investment Management Inc. Purchases 345,010 Shares of Rogers Communication, Inc. $RCI

Hillsdale Investment Management Inc. increased its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 56.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 951,727 shares of the Wireless communications provider’s stock after acquiring an additional 345,010 shares during the period. Rogers Communication makes up approximately 1.0% of Hillsdale Investment Management Inc.’s holdings, making the stock its 23rd largest holding. Hillsdale Investment Management Inc.’s holdings in Rogers Communication were worth $35,989,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RCI. Invesco Ltd. increased its holdings in Rogers Communication by 52.3% during the 2nd quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider’s stock worth $27,724,000 after acquiring an additional 321,124 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Rogers Communication by 52.6% during the 2nd 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 during the period. Marshall Wace LLP increased its holdings in Rogers Communication by 36.5% during the 2nd quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider’s stock worth $1,103,000 after acquiring an additional 9,951 shares during the period. Cerity Partners LLC increased its holdings in Rogers Communication by 7.0% during the 2nd 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 period. Finally, AXA S.A. increased its holdings in Rogers Communication by 231.1% during the 2nd quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider’s stock worth $1,481,000 after acquiring an additional 34,860 shares during the period. Institutional investors own 45.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RCI. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Desjardins reissued a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. TD Cowen reissued a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Finally, Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rogers Communication presently has an average rating of “Hold” and an average price target of $36.00.

Rogers Communication Price Performance

Shares of Rogers Communication stock opened at $38.57 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. Rogers Communication, Inc. has a 52-week low of $26.30 and a 52-week high of $41.14. The company has a fifty day moving average of $36.10 and a 200-day moving average of $37.23. The stock has a market capitalization of $20.84 billion, a price-to-earnings ratio of 4.07, a price-to-earnings-growth ratio of 3.36 and a beta of 0.61.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm earned $0.99 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts expect that Rogers Communication, Inc. will post 3.55 EPS for the current year.

Rogers Communication Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.2%. The ex-dividend date is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is presently 15.51%.

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.