Gabelli Funds LLC Has $45.26 Million Holdings in Rogers Communications Inc. (NYSE:RCI)

Gabelli Funds LLC raised its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,224,000 shares of the Wireless communications provider’s stock after acquiring an additional 17,500 shares during the quarter. Gabelli Funds LLC’s holdings in Rogers Communications were worth $45,264,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. FIL Ltd lifted its stake in Rogers Communications by 13.7% in the fourth quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock valued at $1,709,377,000 after buying an additional 4,405,888 shares during the period. 1832 Asset Management L.P. raised its position in shares of Rogers Communications by 10.2% during the fourth quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock worth $594,848,000 after purchasing an additional 1,177,264 shares during the period. TD Asset Management Inc raised its position in shares of Rogers Communications by 4.2% during the first quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider’s stock worth $473,204,000 after purchasing an additional 463,368 shares during the period. National Bank of Canada FI raised its position in shares of Rogers Communications by 37.5% during the first quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock worth $220,193,000 after purchasing an additional 1,519,894 shares during the period. Finally, Letko Brosseau & Associates Inc. raised its position in shares of Rogers Communications by 1.5% during the second quarter. Letko Brosseau & Associates Inc. now owns 4,004,074 shares of the Wireless communications provider’s stock worth $148,066,000 after purchasing an additional 57,245 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RCI has been the topic of a number of research reports. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. TD Securities upped their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets upped their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

Rogers Communications Trading Up 1.3 %

Shares of Rogers Communications stock opened at $40.36 on Friday. The stock has a fifty day simple moving average of $39.47 and a 200 day simple moving average of $39.35. Rogers Communications Inc. has a 12-month low of $35.55 and a 12-month high of $48.19. The company has a market capitalization of $21.39 billion, a P/E ratio of 50.45, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.33. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.14 billion. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. Rogers Communications’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, sell-side analysts anticipate that Rogers Communications Inc. will post 3.59 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be paid a $0.365 dividend. The ex-dividend date is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.62%. Rogers Communications’s dividend payout ratio (DPR) is presently 185.00%.

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.