Rogers Communication Inc. (NYSE:RCI) issued its quarterly earnings results on Monday. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.03. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year.
Rogers Communication (NYSE:RCI) opened at 41.29 on Tuesday. The company’s 50 day moving average price is $42.23 and its 200 day moving average price is $40.91. Rogers Communication has a 52-week low of $32.50 and a 52-week high of $45.50. The firm has a market cap of $21.25 billion, a PE ratio of 20.06 and a beta of 0.87.
The firm also recently disclosed 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 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Wednesday, September 7th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. Rogers Communication’s payout ratio is currently 71.36%.
A number of brokerages have recently weighed in on RCI. Zacks Investment Research upgraded Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, September 21st. TD Securities restated a “buy” rating and issued a $58.00 target price 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. Canaccord Genuity restated a “hold” rating on shares of Rogers Communication in a research note on Tuesday, July 19th. Finally, Barclays PLC set a $40.00 target price on Rogers Communication and gave the company a “hold” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Rogers Communication has a consensus rating of “Buy” and an average target price of C$50.00.
A number of hedge funds have recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Rogers Communication by 10.6% in the second quarter. US Bancorp DE now owns 3,212 shares of the company’s stock valued at $129,000 after buying an additional 309 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of Rogers Communication during the second quarter valued at approximately $281,000. Trexquant Investment LP acquired a new stake in shares of Rogers Communication during the second quarter valued at approximately $372,000. Guggenheim Capital LLC increased its stake in shares of Rogers Communication by 48.8% in the second quarter. Guggenheim Capital LLC now owns 14,612 shares of the company’s stock valued at $590,000 after buying an additional 4,793 shares during the last quarter. Finally, TCW Group Inc. acquired a new stake in shares of Rogers Communication during the second quarter valued at approximately $701,000. 49.28% of the stock is currently 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 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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