Cormark Equities Analysts Reduce Earnings Estimates for Rogers Communication Inc. (RCI)
Rogers Communication Inc. (NYSE:RCI) – Investment analysts at Cormark reduced their FY2017 EPS estimates for shares of Rogers Communication in a research report issued to clients and investors on Tuesday. Cormark analyst D. Mcfadgen now anticipates that the firm will post earnings per share of $2.28 for the year, down from their previous estimate of $2.42.
Rogers Communication (NYSE:RCI) last posted its earnings results on Thursday, July 21st. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.47 billion. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. Rogers Communication’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share.
Several other brokerages also recently issued reports on RCI. Zacks Investment Research raised Rogers Communication from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th. TheStreet raised Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. TD Securities reissued a “buy” rating and issued a $58.00 price target on shares of Rogers Communication in a report on Wednesday, July 6th. Canaccord Genuity reissued a “hold” rating on shares of Rogers Communication in a report on Tuesday, July 19th. Finally, Bank of America Corp. began coverage on Rogers Communication in a report on Tuesday, July 5th. They issued a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Rogers Communication has an average rating of “Buy” and an average target price of C$49.56.
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Rogers Communication (NYSE:RCI) traded up 0.56% during mid-day trading on Thursday, reaching $41.36. The company’s stock had a trading volume of 228,376 shares. The firm’s 50 day moving average price is $42.44 and its 200 day moving average price is $40.87. Rogers Communication has a 52 week low of $32.50 and a 52 week high of $45.50. The firm has a market capitalization of $21.29 billion, a P/E ratio of 20.10 and a beta of 0.87.
Several hedge funds have recently modified their holdings of the company. Capstone Asset Management Co. boosted its stake in shares of Rogers Communication by 4.1% in the third quarter. Capstone Asset Management Co. now owns 47,466 shares of the company’s stock valued at $2,014,000 after buying an additional 1,850 shares during the period. Advisory Services Network LLC boosted its stake in shares of Rogers Communication by 1.8% in the third quarter. Advisory Services Network LLC now owns 9,615 shares of the company’s stock valued at $408,000 after buying an additional 171 shares during the period. Monarch Capital Management Inc. boosted its stake in shares of Rogers Communication by 1.4% in the third quarter. Monarch Capital Management Inc. now owns 21,800 shares of the company’s stock valued at $925,000 after buying an additional 300 shares during the period. Tobam boosted its stake in shares of Rogers Communication by 7.4% in the second quarter. Tobam now owns 268,000 shares of the company’s stock valued at $10,793,000 after buying an additional 18,500 shares during the period. Finally, Blue Chip Partners Inc. boosted its stake in shares of Rogers Communication by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the company’s stock valued at $165,000 after buying an additional 35 shares during the period. 49.28% of the stock is owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Sunday, September 11th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Wednesday, September 7th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. Rogers Communication’s dividend payout ratio (DPR) is 71.36%.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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