Scotiabank Reaffirms Outperform Rating for Rogers Communication Inc. (RCI)
Rogers Communication Inc. (NYSE:RCI)‘s stock had its “outperform” rating reaffirmed by stock analysts at Scotiabank in a research report issued on Tuesday. They currently have a $60.00 target price on the stock.
RCI has been the subject of a number of other research reports. Zacks Investment Research upgraded Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Wednesday, September 21st. TD Securities reiterated a “buy” rating and set a $58.00 price objective on shares of Rogers Communication in a research note on Wednesday, July 6th. TheStreet upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Bank of America Corp. initiated coverage on Rogers Communication in a research note on Tuesday, July 5th. They set a “neutral” rating for the company. Finally, Barclays PLC set a $40.00 price objective on Rogers Communication and gave the company a “hold” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Rogers Communication currently has an average rating of “Buy” and a consensus price target of C$50.80.
Rogers Communication (NYSE:RCI) traded up 0.58% during midday trading on Tuesday, hitting $41.53. The company had a trading volume of 287,467 shares. 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 1-year low of $32.50 and a 1-year high of $45.50. The company has a 50 day moving average price of $42.23 and a 200 day moving average price of $40.91.
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Rogers Communication (NYSE:RCI) last issued its 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. The firm 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%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $0.92 EPS. Equities research analysts forecast that Rogers Communication will post $2.21 earnings per share for the current fiscal year.
The business also recently announced 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 4.62%. The ex-dividend date of this dividend was Wednesday, September 7th. Rogers Communication’s payout ratio is currently 71.36%.
Several hedge funds and other institutional investors have recently modified their holdings of RCI. Capstone Asset Management Co. boosted its position in shares of 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 in the last quarter. 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 valued at $408,000 after buying an additional 171 shares in 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 valued at $925,000 after buying an additional 300 shares in 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 valued at $10,793,000 after buying an additional 18,500 shares in 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 valued at $165,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds 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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