Rogers Communication Inc. (RCI) Rating Reiterated by Credit Suisse Group AG
Rogers Communication Inc. (NYSE:RCI)‘s stock had its “neutral” rating restated by research analysts at Credit Suisse Group AG in a research report issued on Tuesday. They currently have a $54.00 target price on the stock, up from their prior target price of $53.00.
A number of other brokerages also recently weighed in on RCI. Zacks Investment Research raised shares of Rogers Communication from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th. TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. TD Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Rogers Communication in a report on Wednesday, July 6th. Barclays PLC set a $40.00 price objective on shares of Rogers Communication and gave the company a “hold” rating in a report on Friday. Finally, RBC Capital Markets reaffirmed an “outperform” rating on shares of Rogers Communication in a report on Tuesday. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of C$50.80.
Rogers Communication (NYSE:RCI) traded up 0.58% during midday trading on Tuesday, hitting $41.53. 287,467 shares of the stock were exchanged. The company’s 50 day moving average is $42.23 and its 200 day moving average is $40.91. The company has a market capitalization of $21.38 billion, a P/E ratio of 20.18 and a beta of 0.87. Rogers Communication has a 1-year low of $32.50 and a 1-year high of $45.50.
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Rogers Communication (NYSE:RCI) last issued its quarterly earnings results on Monday, October 17th. The company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.03. The company earned $3.49 billion during the quarter, compared to analysts’ expectations of $3.45 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 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Analysts predict that Rogers Communication will post $2.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.62%. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, September 7th. Rogers Communication’s dividend payout ratio is 71.36%.
Several hedge funds and other institutional investors have recently bought and sold shares of RCI. Capstone Asset Management Co. boosted its position in 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 position 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 worth $408,000 after buying an additional 171 shares during the last quarter. Monarch Capital Management Inc. boosted its position 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 worth $925,000 after buying an additional 300 shares during the last quarter. Tobam boosted its position in shares of Rogers Communication by 7.4% in the second quarter. Tobam now owns 268,000 shares of the company’s stock worth $10,793,000 after buying an additional 18,500 shares during the last quarter. Finally, Blue Chip Partners Inc. boosted its position 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 worth $165,000 after buying an additional 35 shares during the last quarter. 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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