Rogers Communication Inc. (NYSE:RCI) – Analysts at Cormark decreased their FY2017 earnings per share (EPS) estimates for Rogers Communication in a report issued on Tuesday. Cormark analyst D. Mcfadgen now expects that the firm will post earnings of $2.28 per share for the year, down from their previous estimate of $2.42.
Rogers Communication (NYSE:RCI) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm earned $3.46 billion during the quarter, compared to analyst estimates of $3.47 billion. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS.
RCI has been the subject of several other reports. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, September 21st. TD Securities reissued a “buy” rating and set a $58.00 price objective on shares of Rogers Communication in a report on Wednesday, July 6th. TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Bank of America Corp. started coverage on shares of Rogers Communication in a report on Tuesday, July 5th. They set a “neutral” rating for the company. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a report on Tuesday, July 19th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Rogers Communication currently has an average rating of “Buy” and a consensus target price of C$50.00.
Rogers Communication (NYSE:RCI) traded down 0.07% during midday trading on Thursday, reaching $41.33. 192,082 shares of the company’s stock traded hands. The firm has a market cap of $21.27 billion, a PE ratio of 20.08 and a beta of 0.87. Rogers Communication has a 52-week low of $32.50 and a 52-week high of $45.50. The firm’s 50-day moving average is $42.29 and its 200 day moving average is $40.89.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of 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 in the last quarter. Beutel Goodman & Co Ltd. raised its position in shares of 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 in the last quarter. TD Asset Management Inc. raised its position in shares of Rogers Communication by 1.7% in the second quarter. TD Asset Management Inc. now owns 14,736,144 shares of the company’s stock worth $593,389,000 after buying an additional 242,250 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Rogers Communication by 21.8% in the second quarter. 1832 Asset Management L.P. now owns 10,748,669 shares of the company’s stock worth $683,889,000 after buying an additional 1,922,300 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Rogers Communication by 12.0% in the second quarter. Vanguard Group Inc. now owns 6,954,480 shares of the company’s stock worth $280,960,000 after buying an additional 747,064 shares in the last quarter. Institutional investors and hedge funds own 49.28% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Sunday, September 11th were given a $0.48 dividend. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date was Wednesday, September 7th. Rogers Communication’s dividend payout ratio is presently 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.
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