A number of other brokerages also recently weighed in on RCI. Zacks Investment Research upgraded shares of Rogers Communication from a strong sell rating to a hold rating in a research report on Wednesday, July 27th. TheStreet upgraded shares of Rogers Communication from a hold rating to a buy rating in a report on Thursday, July 21st. Credit Suisse Group AG restated a neutral rating and set a $54.00 target price (up from $53.00) on shares of Rogers Communication in a report on Tuesday. TD Securities restated a buy rating and set a $58.00 target price on shares of Rogers Communication in a report on Wednesday, July 6th. Finally, Barclays PLC set a $40.00 target price on shares of Rogers Communication and gave the stock a hold rating in a report on Friday, October 14th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Rogers Communication presently has an average rating of Buy and a consensus price target of C$50.80.
Shares of Rogers Communication (NYSE:RCI) opened at 41.76 on Tuesday. The stock has a 50 day moving average of $42.18 and a 200-day moving average of $40.92. The firm has a market capitalization of $21.50 billion, a PE ratio of 20.29 and a beta of 0.87. Rogers Communication has a 52 week low of $32.50 and a 52 week high of $45.50.
Rogers Communication (NYSE:RCI) last announced its quarterly earnings results on Monday, October 17th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.03. The firm earned $3.49 billion during the quarter, compared to analyst estimates of $3.45 billion. Rogers Communication had a net margin of 8.53% and a return on equity of 23.89%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Equities analysts anticipate that Rogers Communication will post $2.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were paid a $0.48 dividend. The ex-dividend date was Wednesday, September 7th. 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%. Rogers Communication’s dividend payout ratio (DPR) is currently 86.98%.
Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position 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 valued at $1,455,104,000 after buying an additional 3,848,069 shares in the last quarter. Beutel Goodman & Co Ltd. increased its stake 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 valued at $940,746,000 after buying an additional 1,077,355 shares in the last quarter. TD Asset Management Inc. increased its stake 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 valued at $593,389,000 after buying an additional 242,250 shares in the last quarter. 1832 Asset Management L.P. increased its stake 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 valued at $683,889,000 after buying an additional 1,922,300 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake 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 valued at $280,960,000 after buying an additional 747,064 shares in the last quarter. 49.28% 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 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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