Rogers Communication Inc. (NYSE:RCI) – Equities researchers at National Bank Financial issued their Q3 2016 EPS estimates for Rogers Communication in a research report issued on Thursday. National Bank Financial analyst A. Shine expects that the firm will post earnings of $0.68 per share for the quarter. National Bank Financial also issued estimates for Rogers Communication’s FY2016 earnings at $2.20 EPS and FY2017 earnings at $2.33 EPS.
Several other research firms have also commented on RCI. Zacks Investment Research upgraded Rogers Communication from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th. TheStreet upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. TD Securities restated a “buy” rating and set a $58.00 price target on shares of Rogers Communication in a research report on Wednesday, July 6th. Canaccord Genuity restated a “hold” rating on shares of Rogers Communication in a research report on Tuesday, July 19th. Finally, Bank of America Corp. began coverage on Rogers Communication in a research report on Tuesday, July 5th. They set a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Rogers Communication presently has an average rating of “Buy” and a consensus target price of C$49.56.
Rogers Communication (NYSE:RCI) opened at 41.00 on Monday. The company’s 50-day moving average price is $42.52 and its 200 day moving average price is $40.87. The firm has a market capitalization of $21.10 billion, a price-to-earnings ratio of 19.92 and a beta of 0.87. Rogers Communication has a 12 month low of $32.50 and a 12 month high of $45.50.
Rogers Communication (NYSE:RCI) last announced its earnings results on Thursday, July 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the company posted $0.80 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Rogers Communication by 11.8% in the first quarter. Royal Bank of Canada now owns 36,359,454 shares of the company’s stock worth $1,455,104,000 after buying an additional 3,848,069 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in Rogers Communication by 4.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 23,399,933 shares of the company’s stock worth $940,746,000 after buying an additional 1,077,355 shares during the period. Legal & General Group Plc boosted its stake in Rogers Communication by 1.3% in the first quarter. Legal & General Group Plc now owns 1,942,128 shares of the company’s stock worth $78,077,000 after buying an additional 24,694 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Rogers Communication by 28.0% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,592,055 shares of the company’s stock worth $135,564,000 after buying an additional 567,700 shares during the period. Finally, PCJ Investment Counsel Ltd. boosted its stake in Rogers Communication by 23.5% in the first quarter. PCJ Investment Counsel Ltd. now owns 507,416 shares of the company’s stock worth $20,399,000 after buying an additional 96,596 shares during the period. 49.28% of the stock is owned by institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Sunday, September 11th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.68%. This is an increase from Rogers Communication’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, September 7th. Rogers Communication’s payout ratio is 71.36%.
About Rogers Communication
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.
Receive News & Ratings for Rogers Communication Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communication Inc. and related companies with MarketBeat.com's FREE daily email newsletter.