Timelo Investment Management Inc. Purchases Shares of 110,000 Rogers Communications Inc. (NYSE:RCI)

Timelo Investment Management Inc. purchased a new stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 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 portfolio, making the stock its 5th largest position.

Several other large investors have also recently made changes to their positions in RCI. Natixis raised its position in Rogers Communications by 17,449.0% in the fourth quarter. Natixis now owns 45,803 shares of the Wireless communications provider’s stock valued at $1,408,000 after purchasing an additional 45,542 shares during the period. Ossiam grew its stake in shares of Rogers Communications by 38.3% in the fourth quarter. Ossiam now owns 73,581 shares of the Wireless communications provider’s stock valued at $2,261,000 after buying an additional 20,381 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Rogers Communications by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 783,739 shares of the Wireless communications provider’s stock valued at $24,084,000 after buying an additional 23,926 shares during the period. First Trust Advisors LP lifted its stake in Rogers Communications by 18.6% during the 4th quarter. First Trust Advisors LP now owns 2,860,669 shares of the Wireless communications provider’s stock worth $87,909,000 after acquiring an additional 447,738 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Rogers Communications by 468.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 606,700 shares of the Wireless communications provider’s stock valued at $18,627,000 after acquiring an additional 500,000 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Stock Performance

NYSE:RCI opened at $25.90 on Friday. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a market capitalization of $13.88 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The business’s fifty day moving average price is $26.95 and its 200 day moving average price is $31.14.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. On average, sell-side analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 10th were paid a dividend of $0.347 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 5.36%. Rogers Communications’s dividend payout ratio is currently 59.48%.

Wall Street Analyst Weigh In

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

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.