RBC Capital Markets Reiterates Outperform Rating for Rogers Communication Inc. (RCI)
Rogers Communication Inc. (NYSE:RCI)‘s stock had its “outperform” rating reiterated by research analysts at RBC Capital Markets in a note issued to investors on Tuesday.
A number of other analysts also recently issued reports on RCI. Zacks Investment Research downgraded shares of Rogers Communication from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Bank of America Corp. initiated coverage on shares of Rogers Communication in a report on Tuesday, July 5th. They set a “neutral” rating on the stock. TD Securities reissued a “buy” rating and set 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, TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$50.00.
Rogers Communication (NYSE:RCI) traded up 0.739% during mid-day trading on Tuesday, hitting $41.595. 260,325 shares of the stock were exchanged. Rogers Communication has a 52-week low of $32.50 and a 52-week high of $45.50. The stock has a market cap of $21.41 billion, a PE ratio of 20.211 and a beta of 0.87. The stock’s 50 day moving average is $42.23 and its 200 day moving average is $40.91.
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Rogers Communication (NYSE:RCI) last announced its quarterly earnings results on Monday, October 17th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.03. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the company posted $0.92 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts forecast that Rogers Communication will post $2.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were given a dividend of $0.48 per share. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a yield of 4.65%. The ex-dividend date was Wednesday, September 7th. Rogers Communication’s dividend payout ratio (DPR) is presently 71.36%.
Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Rogers Communication by 11.8% in the first quarter. Royal Bank of Canada now owns 36,359,454 shares of the company’s stock valued at $1,455,104,000 after buying an additional 3,848,069 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its stake in Rogers Communication by 4.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 23,399,933 shares of the company’s stock valued at $940,746,000 after buying an additional 1,077,355 shares during the last quarter. Legal & General Group Plc boosted its stake in Rogers Communication by 1.3% in the first quarter. Legal & General Group Plc now owns 1,942,128 shares of the company’s stock valued at $78,077,000 after buying an additional 24,694 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Rogers Communication by 28.0% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,592,055 shares of the company’s stock valued at $135,564,000 after buying an additional 567,700 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. boosted its stake in Rogers Communication by 23.5% in the first quarter. PCJ Investment Counsel Ltd. now owns 507,416 shares of the company’s stock valued at $20,399,000 after buying an additional 96,596 shares during the last quarter. Hedge funds and other institutional investors own 49.28% of the company’s stock.
About Rogers Communication
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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