Timelo Investment Management Inc. Has $3.89 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Timelo Investment Management Inc. grew its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 232.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 83,000 shares of the Wireless communications provider's stock after acquiring an additional 58,000 shares during the quarter. Rogers Communications comprises 3.4% of Timelo Investment Management Inc.'s investment portfolio, making the stock its 4th biggest holding. Timelo Investment Management Inc.'s holdings in Rogers Communications were worth $3,885,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RCI. EverSource Wealth Advisors LLC boosted its position in shares of Rogers Communications by 62.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider's stock valued at $27,000 after purchasing an additional 270 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Rogers Communications in the 3rd quarter valued at about $29,000. Fifth Third Bancorp boosted its position in shares of Rogers Communications by 120.1% in the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider's stock valued at $31,000 after purchasing an additional 359 shares during the period. Lindbrook Capital LLC boosted its position in shares of Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider's stock valued at $43,000 after purchasing an additional 499 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Rogers Communications in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Performance

Rogers Communications stock traded up $0.27 during mid-day trading on Friday, reaching $39.62. 684,077 shares of the company were exchanged, compared to its average volume of 707,063. Rogers Communications Inc. has a twelve month low of $36.55 and a twelve month high of $50.00. The firm's 50-day simple moving average is $43.94 and its two-hundred day simple moving average is $43.16. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.84 and a current ratio of 0.89. The firm has a market cap of $20.94 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 1.67 and a beta of 0.59.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. The company had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $3.99 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%. Equities analysts predict that Rogers Communications Inc. will post 3.62 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Monday, March 11th were issued a $0.3742 dividend. This is a boost from Rogers Communications's previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, March 8th. Rogers Communications's dividend payout ratio (DPR) is currently 122.50%.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of research analyst reports. Barclays decreased their target price on Rogers Communications from $55.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, February 12th. StockNews.com cut Rogers Communications from a "hold" rating to a "sell" rating in a research report on Friday. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Rogers Communications currently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.