Gabelli Funds LLC Has $57.52 Million Stock Holdings in Rogers Communication, Inc. $RCI

Gabelli Funds LLC boosted its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 10.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,495,950 shares of the Wireless communications provider’s stock after purchasing an additional 142,650 shares during the quarter. Gabelli Funds LLC’s holdings in Rogers Communication were worth $57,519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RCI. Fiera Capital Corp increased its holdings in Rogers Communication by 8,881.3% in the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock worth $271,751,000 after purchasing an additional 7,116,744 shares in the last quarter. Morgan Stanley increased its stake in shares of Rogers Communication by 138.0% in the fourth quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock valued at $191,681,000 after buying an additional 2,945,885 shares during the period. Bank of America Corp DE raised its holdings in Rogers Communication by 67.8% in the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after buying an additional 1,966,476 shares during the last quarter. Caisse de depot et placement du Quebec bought a new stake in Rogers Communication during the 3rd quarter worth approximately $47,082,000. Finally, Dimensional Fund Advisors LP grew its holdings in Rogers Communication by 98.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock worth $77,871,000 after acquiring an additional 1,004,963 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Price Performance

Shares of NYSE:RCI opened at $32.76 on Friday. Rogers Communication, Inc. has a twelve month low of $31.38 and a twelve month high of $41.14. The stock’s 50 day moving average is $35.59 and its 200-day moving average is $36.57. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 4.07 and a beta of 0.64.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the firm posted $1.14 EPS. Rogers Communication’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that Rogers Communication, Inc. will post 3.27 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Rogers Communication’s payout ratio is currently 15.30%.

Analysts Set New Price Targets

RCI has been the subject of several recent research reports. Weiss Ratings cut Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Barclays dropped their price objective on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 16th. Raymond James Financial started coverage on Rogers Communication in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. Finally, Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.