Rogers Communication’s (RCI) “Outperform” Rating Reaffirmed at Scotiabank
Rogers Communication Inc. (NYSE:RCI)‘s stock had its “outperform” rating reaffirmed by research analysts at Scotiabank in a report released on Tuesday. They currently have a $60.00 price objective on the stock.
Other research analysts have also recently issued research reports about the stock. TD Securities restated a “buy” rating and set a $58.00 target price on shares of Rogers Communication in a report on Wednesday, July 6th. TheStreet upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Zacks Investment Research upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Wednesday, September 21st. Barclays PLC set a $40.00 price target on shares of Rogers Communication and gave the company a “hold” rating in a research note on Friday. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Rogers Communication in a research note on Tuesday, July 19th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of C$50.80.
Shares of Rogers Communication (NYSE:RCI) traded up 0.58% during mid-day trading on Tuesday, hitting $41.53. 287,467 shares of the stock traded hands. The firm 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 one year low of $32.50 and a one year high of $45.50. The company’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 earnings results on Monday, October 17th. 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 return on equity of 24.94% and a net margin of 10.42%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts expect that Rogers Communication will post $2.21 EPS for the current fiscal year.
The firm also recently declared 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 represents a $1.92 dividend on an annualized basis and a yield of 4.62%. This is a positive change 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 (DPR) is currently 71.36%.
A number of institutional investors have recently added to or reduced their stakes in the company. Blue Chip Partners Inc. raised 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 worth $165,000 after buying an additional 35 shares in the last quarter. Advisory Services Network LLC raised 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 worth $408,000 after buying an additional 171 shares in the last quarter. Bollard Group LLC raised 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 worth $1,301,000 after buying an additional 196 shares in the last quarter. Stifel Financial Corp raised 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 worth $244,000 after buying an additional 248 shares in the last quarter. Finally, Monarch Capital Management Inc. raised 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 worth $869,000 after buying an additional 300 shares in the last quarter. 49.28% of the stock is currently 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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