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

Timelo Investment Management Inc. acquired a new stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 110,000 shares of the Wireless communications provider's stock, valued at approximately $3,380,000. Rogers Communications accounts for approximately 2.4% of Timelo Investment Management Inc.'s holdings, making the stock its 5th biggest holding.

A number of other hedge funds also recently bought and sold shares of RCI. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Rogers Communications by 123.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock valued at $206,565,000 after purchasing an additional 3,717,487 shares during the last quarter. FIL Ltd raised its stake in Rogers Communications by 7.2% in the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock valued at $1,028,336,000 after buying an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Rogers Communications by 20.6% in the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after acquiring an additional 1,320,200 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Rogers Communications by 5,526.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock worth $18,177,000 after acquiring an additional 581,424 shares during the last quarter. Finally, Scotia Capital Inc. raised its position in shares of Rogers Communications by 18.3% in the 4th quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock valued at $113,217,000 after purchasing an additional 572,270 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Performance

Shares of RCI traded down $0.32 during trading hours on Wednesday, hitting $25.09. The stock had a trading volume of 1,503,767 shares, compared to its average volume of 1,018,865. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a 50-day moving average price of $26.85 and a 200 day moving average price of $30.96. Rogers Communications Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.84.

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

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were issued a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 5.53%. The ex-dividend date was Monday, March 10th. Rogers Communications's payout ratio is 59.48%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RCI. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. Finally, Scotiabank lowered Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus 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.