Gabelli Funds LLC Trims Stake in Rogers Communication, Inc. (RCI)
Gabelli Funds LLC reduced its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,806,700 shares of the Wireless communications provider’s stock after selling 34,500 shares during the period. Gabelli Funds LLC owned about 0.45% of Rogers Communication worth $93,117,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in shares of Rogers Communication by 7.8% during the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after purchasing an additional 173 shares during the last quarter. US Bancorp DE grew its holdings in shares of Rogers Communication by 14.6% during the second quarter. US Bancorp DE now owns 3,930 shares of the Wireless communications provider’s stock worth $185,000 after purchasing an additional 501 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of Rogers Communication during the second quarter worth about $203,000. Fort Pitt Capital Group LLC bought a new stake in shares of Rogers Communication during the third quarter worth about $211,000. Finally, Cumberland Partners Ltd bought a new stake in shares of Rogers Communication during the third quarter worth about $245,000. Institutional investors own 47.62% of the company’s stock.
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Several analysts recently commented on RCI shares. Morgan Stanley upped their target price on Rogers Communication from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, August 25th. Zacks Investment Research upgraded Rogers Communication from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Wednesday, July 12th. BidaskClub upgraded Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Barclays PLC upped their target price on Rogers Communication from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Finally, TheStreet upgraded Rogers Communication from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $61.00.
Shares of Rogers Communication, Inc. (RCI) traded up $0.02 during mid-day trading on Monday, reaching $51.94. The company had a trading volume of 70,981 shares, compared to its average volume of 343,465. Rogers Communication, Inc. has a 1-year low of $37.03 and a 1-year high of $54.24. The company has a market capitalization of $26,728.93, a PE ratio of 20.52, a PEG ratio of 3.82 and a beta of 0.93. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.41 and a quick ratio of 0.38.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.19). The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.63 billion. Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. Rogers Communication’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. sell-side analysts predict that Rogers Communication, Inc. will post 2.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Friday, December 8th. Rogers Communication’s payout ratio is 81.48%.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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