Cormark Comments on Rogers Communication, Inc.’s Q3 2017 Earnings (RCI)
Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) – Analysts at Cormark issued their Q3 2017 earnings per share estimates for Rogers Communication in a report issued on Thursday. Cormark analyst D. Mcfadgen forecasts that the Wireless communications provider will post earnings of $0.80 per share for the quarter.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “Cormark Comments on Rogers Communication, Inc.’s Q3 2017 Earnings (RCI)” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/13/cormark-comments-on-rogers-communication-inc-s-q3-2017-earnings-rci.html.
Other analysts have also recently issued reports about the company. BidaskClub upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised Rogers Communication from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Monday, September 25th. Finally, Morgan Stanley increased their price objective on Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Rogers Communication has an average rating of “Buy” and an average target price of $57.29.
Shares of Rogers Communication (NYSE RCI) opened at 52.98 on Friday. The stock has a market capitalization of $27.27 billion, a P/E ratio of 32.03 and a beta of 0.86. Rogers Communication has a 1-year low of $37.03 and a 1-year high of $53.55. The company has a 50 day moving average price of $52.06 and a 200-day moving average price of $48.70.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Thursday, September 14th. Rogers Communication’s dividend payout ratio (DPR) is 104.05%.
Hedge funds have recently modified their holdings of the stock. Creative Planning grew its holdings in Rogers Communication by 7.8% in the 2nd quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after buying an additional 173 shares in the last quarter. US Bancorp DE grew its holdings in Rogers Communication by 8.8% in the 1st quarter. US Bancorp DE now owns 3,429 shares of the Wireless communications provider’s stock worth $152,000 after buying an additional 278 shares in the last quarter. Wetherby Asset Management Inc. bought a new position in Rogers Communication in the 2nd quarter worth approximately $203,000. Institute for Wealth Management LLC. bought a new position in Rogers Communication in the 2nd quarter worth approximately $271,000. Finally, Paloma Partners Management Co bought a new position in Rogers Communication in the 1st quarter worth approximately $288,000. 47.43% of the stock is owned by institutional investors and hedge funds.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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