Rogers Communication Inc. (RCI) Receives “Outperform” Rating from RBC Capital Markets
Rogers Communication Inc. (NYSE:RCI)‘s stock had its “outperform” rating reaffirmed by equities researchers at RBC Capital Markets in a research report issued to clients and investors on Tuesday.
RCI has been the subject of a number of other research reports. Zacks Investment Research raised Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Wednesday, September 21st. TD Securities reissued a “buy” rating and set a $58.00 target price on shares of Rogers Communication in a report on Wednesday, July 6th. TheStreet raised Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Bank of America Corp. began coverage on Rogers Communication in a report on Tuesday, July 5th. They set a “neutral” rating for the company. Finally, Barclays PLC set a $40.00 price target on Rogers Communication and gave the company a “hold” rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$50.00.
Shares of Rogers Communication (NYSE:RCI) traded up 0.58% during midday trading on Tuesday, reaching $41.53. 276,136 shares of the company’s stock were exchanged. The stock has a market cap of $21.38 billion, a PE ratio of 20.18 and a beta of 0.87. The company’s 50 day moving average is $42.23 and its 200-day moving average is $40.91. Rogers Communication has a 12 month low of $32.50 and a 12 month high of $45.50.
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Rogers Communication (NYSE:RCI) last posted its 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. 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 analyst estimates of $3.45 billion. During the same period in the prior year, the business posted $0.92 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts forecast that Rogers Communication will post $2.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Sunday, September 11th were issued 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 dividend yield of 4.65%. The ex-dividend date was Wednesday, September 7th. Rogers Communication’s payout ratio is 71.36%.
Several hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new stake in shares of Rogers Communication during the second quarter valued at approximately $173,013,000. Royal Bank of Canada boosted its stake in shares of 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. Emerald Acquisition Ltd. bought a new stake in shares of Rogers Communication during the second quarter valued at approximately $116,382,000. 1832 Asset Management L.P. boosted its stake in shares of Rogers Communication by 21.8% in the second quarter. 1832 Asset Management L.P. now owns 10,748,669 shares of the company’s stock valued at $683,889,000 after buying an additional 1,922,300 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its stake in shares of 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. Institutional investors own 49.28% of the company’s stock.
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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