Gamco Investors INC. ET AL Sells 4,300 Shares of Rogers Communications Inc. (NYSE:RCI)

Gamco Investors INC. ET AL lessened its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 403,002 shares of the Wireless communications provider’s stock after selling 4,300 shares during the period. Gamco Investors INC. ET AL’s holdings in Rogers Communications were worth $12,384,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of RCI. APG Asset Management N.V. bought a new stake in shares of Rogers Communications in the 4th quarter valued at $3,303,000. FIL Ltd grew its stake in Rogers Communications by 7.2% in the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock valued at $1,028,336,000 after acquiring an additional 2,244,240 shares during the period. Avanza Fonder AB bought a new stake in shares of Rogers Communications in the fourth quarter worth about $718,000. Northwest & Ethical Investments L.P. increased its holdings in shares of Rogers Communications by 180.9% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 344,131 shares of the Wireless communications provider’s stock worth $10,560,000 after acquiring an additional 221,628 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Rogers Communications by 57.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 210,133 shares of the Wireless communications provider’s stock worth $6,457,000 after purchasing an additional 76,373 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RCI. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Scotiabank downgraded shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. Finally, Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.00.

Rogers Communications Stock Performance

Shares of RCI opened at $24.93 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The firm has a fifty day simple moving average of $27.04 and a 200 day simple moving average of $31.43. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Research analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were paid a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date was Monday, March 10th. Rogers Communications’s dividend payout ratio is currently 59.48%.

About Rogers Communications

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.