Rogers Communication Inc. (RCI) Posts Earnings Results, Misses Expectations By $0.03 EPS
Rogers Communication Inc. (NYSE:RCI) announced its earnings results on Monday. The company reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The company earned $3.49 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis.
Shares of Rogers Communication (NYSE:RCI) opened at 41.33 on Monday. The company has a 50-day moving average price of $42.29 and a 200-day moving average price of $40.89. The stock has a market capitalization of $21.27 billion, a price-to-earnings ratio of 20.08 and a beta of 0.87. Rogers Communication has a 52-week low of $32.50 and a 52-week high of $45.50.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were given a $0.48 dividend. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Wednesday, September 7th. Rogers Communication’s dividend payout ratio is presently 71.36%.
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Several large investors have recently added to or reduced their stakes in RCI. US Bancorp DE increased its stake in Rogers Communication by 10.6% in the second quarter. US Bancorp DE now owns 3,212 shares of the company’s stock valued at $129,000 after buying an additional 309 shares during the period. KCG Holdings Inc. bought a new stake in Rogers Communication during the second quarter valued at approximately $281,000. Trexquant Investment LP bought a new stake in Rogers Communication during the second quarter valued at approximately $372,000. Guggenheim Capital LLC increased its stake in Rogers Communication by 48.8% in the second quarter. Guggenheim Capital LLC now owns 14,612 shares of the company’s stock valued at $590,000 after buying an additional 4,793 shares during the period. Finally, TCW Group Inc. bought a new stake in Rogers Communication during the second quarter valued at approximately $701,000. Institutional investors own 49.28% of the company’s stock.
Several analysts recently commented on the company. Zacks Investment Research upgraded Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, September 21st. Barclays PLC restated a “hold” rating and set a $40.00 price target on shares of Rogers Communication in a report on Friday. TD Securities restated a “buy” rating and set a $58.00 price target on shares of Rogers Communication in a report on Wednesday, July 6th. TheStreet upgraded Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Finally, Canaccord Genuity restated a “hold” rating on shares of Rogers Communication in a report on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Rogers Communication currently has an average rating of “Buy” and a consensus price target of C$50.00.
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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