Timelo Investment Management Inc. Takes $3.38 Million Position in Rogers Communications Inc. (NYSE:RCI)

Timelo Investment Management Inc. acquired a new stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,000 shares of the Wireless communications provider's stock, valued at approximately $3,380,000. Rogers Communications accounts for about 2.4% of Timelo Investment Management Inc.'s investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC grew its stake in shares of Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock valued at $47,000 after buying an additional 744 shares during the period. Jones Financial Companies Lllp increased its stake in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after acquiring an additional 1,052 shares during the last quarter. Headlands Technologies LLC increased its stake in Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after acquiring an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC raised its position in Rogers Communications by 19.1% in the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock valued at $178,000 after purchasing an additional 930 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Rogers Communications in the 3rd quarter valued at $248,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Down 0.8 %

RCI traded down $0.19 during trading hours on Friday, hitting $25.05. 659,683 shares of the company's stock were exchanged, compared to its average volume of 1,013,476. The firm has a market cap of $13.43 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The firm has a 50 day moving average of $26.74 and a 200 day moving average of $30.82.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be given a $0.3611 dividend. The ex-dividend date is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.77%. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's dividend payout ratio (DPR) is currently 59.48%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RCI. Scotiabank downgraded Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Barclays reiterated an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Finally, Bank of America lowered Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.00.

About Rogers Communications

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.