Gotham Asset Management LLC Acquires 20,833 Shares of Rogers Communications Inc. (NYSE:RCI)

Gotham Asset Management LLC grew its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 210.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,718 shares of the Wireless communications provider’s stock after buying an additional 20,833 shares during the period. Gotham Asset Management LLC’s holdings in Rogers Communications were worth $944,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCI. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Rogers Communications by 123.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock worth $206,565,000 after buying an additional 3,717,487 shares in the last quarter. FIL Ltd boosted its holdings in shares of Rogers Communications by 7.2% during the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock worth $1,028,336,000 after buying an additional 2,244,240 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Rogers Communications by 20.6% during the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider’s stock worth $237,784,000 after purchasing an additional 1,320,200 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of Rogers Communications by 5,526.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider’s stock worth $18,177,000 after purchasing an additional 581,424 shares during the period. Finally, Scotia Capital Inc. raised its position in shares of Rogers Communications by 18.3% during the fourth quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider’s stock worth $113,217,000 after purchasing an additional 572,270 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RCI. Scotiabank lowered Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.00.

Rogers Communications Trading Up 0.7%

NYSE RCI opened at $25.54 on Friday. The firm has a market capitalization of $13.69 billion, a P/E ratio of 11.01, a PEG ratio of 1.43 and a beta of 0.73. The business has a fifty day simple moving average of $25.92 and a 200 day simple moving average of $29.37. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. 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 (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. On average, analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be given a $0.3611 dividend. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend is Monday, June 9th. Rogers Communications’s dividend payout ratio is presently 59.66%.

Rogers Communications Company 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.