Rogers Communication Inc. (RCI) Stock Rating Reaffirmed by Credit Suisse Group AG
Rogers Communication Inc. (NYSE:RCI)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Credit Suisse Group AG in a research report issued to clients and investors on Tuesday. They currently have a $54.00 price target on the stock, up from their previous price target of $53.00.
Other equities research analysts have also issued research reports about the stock. Bank of America Corp. started coverage on shares of Rogers Communication in a report on Tuesday, July 5th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, October 13th. Barclays PLC set a $40.00 target price on shares of Rogers Communication and gave the stock a “hold” rating in a report on Friday. 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. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of C$50.80.
Rogers Communication (NYSE:RCI) traded up 0.58% on Tuesday, reaching $41.53. 287,467 shares of the company’s stock were exchanged. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 20.18 and a beta of 0.87. Rogers Communication has a 12 month low of $32.50 and a 12 month high of $45.50. The firm has a 50-day moving average of $42.23 and a 200-day moving average of $40.91.
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Rogers Communication (NYSE:RCI) last announced its quarterly earnings data on Monday, October 17th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.03. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The business earned $3.49 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts expect that Rogers Communication will post $2.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were paid a $0.48 dividend. 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. This represents a $1.92 annualized dividend and a dividend yield of 4.62%. Rogers Communication’s dividend payout ratio (DPR) is currently 71.36%.
Several institutional investors have recently added to or reduced their stakes in the stock. Blue Chip Partners Inc. boosted its position in 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 in the last quarter. Advisory Services Network LLC boosted its position in 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 in the last quarter. Bollard Group LLC boosted its position in Rogers Communication by 0.6% in the second quarter. Bollard Group LLC now owns 32,199 shares of the company’s stock valued at $1,301,000 after buying an additional 196 shares in the last quarter. Stifel Financial Corp boosted its position in Rogers Communication by 4.3% in the second quarter. Stifel Financial Corp now owns 5,997 shares of the company’s stock valued at $244,000 after buying an additional 248 shares in the last quarter. Finally, Monarch Capital Management Inc. boosted its position in Rogers Communication by 1.4% in the second quarter. Monarch Capital Management Inc. now owns 21,500 shares of the company’s stock valued at $869,000 after buying an additional 300 shares in the last quarter. 49.28% of the stock is owned by institutional investors and hedge funds.
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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