Montrusco Bolton Investments Inc. Buys 25,424 Shares of Rogers Communication, Inc. $RCI

Montrusco Bolton Investments Inc. bought a new position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,424 shares of the Wireless communications provider’s stock, valued at approximately $785,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCI. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Rogers Communication by 277.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider’s stock worth $12,208,000 after purchasing an additional 233,449 shares during the last quarter. Nykredit A S bought a new position in Rogers Communication in the second quarter valued at approximately $1,847,000. Hillsdale Investment Management Inc. boosted its stake in Rogers Communication by 4.2% in the first quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider’s stock valued at $38,117,000 after acquiring an additional 39,638 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Rogers Communication in the second quarter valued at approximately $1,395,000. Finally, Bank of New York Mellon Corp grew its holdings in Rogers Communication by 30.7% during the 1st quarter. Bank of New York Mellon Corp now owns 426,113 shares of the Wireless communications provider’s stock worth $16,384,000 after acquiring an additional 100,162 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Trading Up 3.0%

RCI traded up $0.90 during mid-day trading on Tuesday, hitting $30.80. The stock had a trading volume of 1,612,120 shares, compared to its average volume of 1,256,380. The stock’s fifty day simple moving average is $34.58 and its 200-day simple moving average is $35.18. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 3.72, a price-to-earnings-growth ratio of 3.75 and a beta of 0.65. Rogers Communication, Inc. has a 1-year low of $29.25 and a 1-year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts forecast that Rogers Communication, Inc. will post 3.24 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 8th were paid a dividend of C$0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend was Tuesday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is presently 17.39%.

Analyst Ratings Changes

RCI has been the subject of several recent research reports. Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Weiss Ratings lowered Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Raymond James Financial assumed coverage on Rogers Communication in a research note on Wednesday, July 15th. They set an “outperform” rating for the company. Finally, TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Rogers Communication Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers’ telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.