Rogers Communication, Inc. $RCI Shares Acquired by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management increased its Rogers Communication stake by 4.2% in the first quarter, buying 39,638 more shares and bringing its total to 991,365 shares, or about 0.18% of the company.
• Rogers reported Q1 earnings of $0.74 per share, narrowly beating estimates, while revenue came in at $3.94 billion versus the $5.44 billion analysts expected.
• The company paid a quarterly dividend of $0.50 per share, equivalent to a 6.0% annualized yield, while analysts currently rate the stock a consensus "Hold" with an average target price of $36.00.

Hillsdale Investment Management Inc. lifted its position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 991,365 shares of the Wireless communications provider's stock after buying an additional 39,638 shares during the quarter. Rogers Communication makes up 1.0% of Hillsdale Investment Management Inc.'s investment portfolio, making the stock its 21st largest holding. Hillsdale Investment Management Inc. owned approximately 0.18% of Rogers Communication worth $38,117,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RCI. TD Waterhouse Canada Inc. lifted its position in shares of 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. boosted its stake in shares of Rogers Communication by 33.5% in the third quarter. DigitalBridge Group Inc. now owns 1,159,502 shares of the Wireless communications provider's stock valued at $39,968,000 after purchasing an additional 290,871 shares during the period. Swiss Life Asset Management Ltd grew its holdings in shares of Rogers Communication by 66.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 90,206 shares of the Wireless communications provider's stock valued at $3,406,000 after purchasing an additional 36,114 shares in the last quarter. Lorne Steinberg Wealth Management Inc. grew its holdings in shares of 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 purchasing an additional 30,802 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in Rogers Communication during the 3rd quarter worth approximately $2,090,000. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Stock Performance

Shares of Rogers Communication stock opened at $33.37 on Tuesday. The business has a 50-day simple moving average of $36.04 and a 200-day simple moving average of $36.80. 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 one year low of $31.38 and a one year high of $41.14. The company has a market cap of $18.03 billion, a PE ratio of 3.52, a P/E/G ratio of 3.99 and a beta of 0.64.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share 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 firm had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $5.44 billion. During the same quarter last year, the company earned $0.99 earnings per share. The firm's revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Rogers Communication, Inc. will post 3.37 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Tuesday, June 9th. Rogers Communication's dividend payout ratio (DPR) is presently 15.30%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RCI shares. Scotiabank reiterated an "outperform" rating on shares of Rogers Communication in a report on Tuesday, July 7th. Weiss Ratings restated a "hold (c)" rating on shares of Rogers Communication in a research note on Wednesday, June 17th. Desjardins reaffirmed a "hold" rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Finally, TD Securities cut Rogers Communication from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Three 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. According to MarketBeat.com, Rogers Communication presently has a consensus rating of "Hold" and an average target price 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.

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