Gabelli Funds LLC decreased its holdings in Rogers Communications Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,199,400 shares of the Wireless communications provider’s stock after selling 13,500 shares during the quarter. Gabelli Funds LLC’s holdings in Rogers Communications were worth $54,741,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Rogers Communications during the 2nd quarter worth $27,000. ING Groep NV bought a new stake in Rogers Communications during the first quarter valued at about $50,000. Grayhawk Investment Strategies Inc. increased its position in Rogers Communications by 796.6% in the first quarter. Grayhawk Investment Strategies Inc. now owns 1,300 shares of the Wireless communications provider’s stock worth $81,000 after buying an additional 1,155 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Rogers Communications in the first quarter worth about $82,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Rogers Communications by 26.7% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,760 shares of the Wireless communications provider’s stock valued at $99,000 after buying an additional 371 shares in the last quarter. 44.25% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on RCI shares. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Royal Bank of Canada upgraded shares of Rogers Communications from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 15th. TheStreet downgraded shares of Rogers Communications from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Finally, StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a report on Monday, November 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average price target of $75.69.
Rogers Communications Price Performance
RCI traded up $0.59 during trading on Friday, hitting $42.79. 566,396 shares of the company traded hands, compared to its average volume of 332,177. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 3.77. The company has a market cap of $22.62 billion, a PE ratio of 28.91, a P/E/G ratio of 1.35 and a beta of 0.54. The stock’s 50-day simple moving average is $39.46 and its two-hundred day simple moving average is $42.50. Rogers Communications Inc. has a 1 year low of $36.55 and a 1 year high of $50.16.
Rogers Communications Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.37%. Rogers Communications’s payout ratio is 97.30%.
Rogers Communications Profile
Rogers Communications Inc operates as a communications and media company in North America. 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 services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.
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