Gabelli Funds LLC Has $45.16 Million Holdings in Rogers Communication, Inc. $RCI

Gabelli Funds LLC grew its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 owned about 0.24% of Rogers Communication worth $45,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of RCI. Picton Mahoney Asset Management acquired a new stake in Rogers Communication in the 2nd quarter valued at $78,714,000. CIBC Asset Management Inc raised its holdings in Rogers Communication by 261.2% during the third quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock worth $72,280,000 after buying an additional 1,520,062 shares during the last quarter. TD Asset Management Inc raised 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. Arrowstreet Capital Limited Partnership lifted its stake in shares of Rogers Communication by 15.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock valued at $284,981,000 after buying an additional 1,255,794 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its stake in shares of 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 valued at $199,922,000 after buying an additional 868,800 shares in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communication Stock Down 0.7%

RCI opened at $40.31 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. The company’s 50-day moving average is $37.73 and its 200 day moving average is $37.15. Rogers Communication, Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.14. The firm has a market capitalization of $21.78 billion, a P/E ratio of 4.36, a PEG ratio of 5.37 and a beta of 0.74.

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

Rogers Communication Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Wall Street Zen lowered Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Desjardins downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.