Gabelli Funds LLC Acquires 50,000 Shares of Rogers Communication, Inc. $RCI

Gabelli Funds LLC grew its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 4.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,310,100 shares of the Wireless communications provider’s stock after acquiring an additional 50,000 shares during the quarter. Gabelli Funds LLC’s holdings in Rogers Communication were worth $45,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Rogers Communication by 15.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock worth $284,981,000 after buying an additional 1,255,794 shares during the last quarter. TD Asset Management Inc increased its holdings in Rogers Communication by 18.0% during the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after buying an additional 1,272,065 shares during the last quarter. Bank of Nova Scotia increased its holdings in Rogers Communication by 3.5% during the second quarter. Bank of Nova Scotia now owns 8,279,443 shares of the Wireless communications provider’s stock worth $245,489,000 after buying an additional 280,536 shares during the last quarter. Letko Brosseau & Associates Inc. raised its position in Rogers Communication by 14.8% in the second quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock worth $199,922,000 after acquiring an additional 868,800 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its stake in Rogers Communication by 18.9% in the second quarter. Burgundy Asset Management Ltd. now owns 4,172,546 shares of the Wireless communications provider’s stock valued at $123,528,000 after acquiring an additional 662,594 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Price Performance

Shares of NYSE:RCI opened at $40.31 on Friday. The firm has a market capitalization of $21.78 billion, a PE ratio of 4.36, a P/E/G ratio of 5.37 and a beta of 0.74. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average price of $37.73 and a two-hundred day moving average price of $37.15. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Equities analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, March 10th. Rogers Communication’s payout ratio is currently 15.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Morgan Stanley reissued an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rogers Communication in a research note on Friday, December 26th. Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. Finally, Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Company Profile

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.