Rogers Communication, Inc. $RCI Shares Acquired by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. increased its holdings in Rogers Communication by 12.2%, owning 452,127 shares valued at approximately $12.1 million as of its latest filing.
• Rogers Communication announced a quarterly dividend increase to $0.3672 per share, representing an annualized yield of 4.2%.
• Wall Street analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average target price of $59.00.

Gamco Investors INC. ET AL grew its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,127 shares of the Wireless communications provider's stock after acquiring an additional 49,125 shares during the period. Gamco Investors INC. ET AL owned 0.08% of Rogers Communication worth $12,085,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RCI. Raymond James Financial Inc. purchased a new stake in shares of Rogers Communication in the 4th quarter worth approximately $608,000. Marshall Wace LLP purchased a new stake in shares of Rogers Communication in the 4th quarter worth approximately $852,000. Dimensional Fund Advisors LP lifted its position in shares of Rogers Communication by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 783,739 shares of the Wireless communications provider's stock worth $24,084,000 after purchasing an additional 23,926 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Rogers Communication by 201.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,416 shares of the Wireless communications provider's stock worth $382,000 after purchasing an additional 8,299 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Rogers Communication by 10.7% in the 4th quarter. Northern Trust Corp now owns 158,002 shares of the Wireless communications provider's stock worth $4,855,000 after purchasing an additional 15,295 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Stock Up 0.4%

NYSE:RCI traded up $0.16 during midday trading on Monday, reaching $35.86. 598,167 shares of the stock traded hands, compared to its average volume of 903,402. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The business has a 50-day moving average of $33.32 and a two-hundred day moving average of $28.93. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70. The stock has a market capitalization of $19.29 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The company had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $5.12 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Rogers Communication's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be paid a dividend of $0.3672 per share. This represents a $1.47 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, September 8th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio (DPR) is currently 72.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Rogers Communication has a consensus rating of "Hold" and an average target price of $59.00.

About Rogers Communication

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.