Rogers Communication Inc. (NYSE:RCI) – National Bank Financial lifted their FY2017 EPS estimates for Rogers Communication in a research note issued to investors on Monday. National Bank Financial analyst A. Shine now forecasts that the firm will post earnings per share of $2.35 for the year, up from their prior forecast of $2.33.
Rogers Communication (NYSE:RCI) last announced its quarterly earnings results on Monday, October 17th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.03. Rogers Communication had a return on equity of 23.89% and a net margin of 8.53%. The business earned $3.49 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the company earned $0.92 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year.
Several other research firms also recently weighed in on RCI. Zacks Investment Research raised Rogers Communication from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th. TheStreet raised Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Scotiabank reissued an “outperform” rating and set a $60.00 price objective on shares of Rogers Communication in a report on Tuesday. Credit Suisse Group AG reissued a “neutral” rating and set a $54.00 price objective (up previously from $53.00) on shares of Rogers Communication in a report on Tuesday. Finally, 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. Eight 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) traded down 1.08% during midday trading on Wednesday, hitting $41.08. The company’s stock had a trading volume of 205,786 shares. The company has a 50-day moving average price of $42.18 and a 200 day moving average price of $40.92. The company has a market cap of $21.15 billion, a P/E ratio of 19.96 and a beta of 0.87. Rogers Communication has a 1-year low of $32.50 and a 1-year high of $45.50.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.62%. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, September 7th. Rogers Communication’s payout ratio is presently 86.98%.
A number of hedge funds have recently modified their holdings of RCI. US Bancorp DE raised 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 worth $129,000 after buying an additional 309 shares during the last quarter. Blue Chip Partners Inc. raised its stake in shares of Rogers Communication by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the company’s stock worth $165,000 after buying an additional 35 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Rogers Communication by 4.3% in the second quarter. Stifel Financial Corp now owns 5,997 shares of the company’s stock worth $244,000 after buying an additional 248 shares during the last quarter. Princeton Alpha Management LP raised its stake in shares of Rogers Communication by 33.4% in the second quarter. Princeton Alpha Management LP now owns 6,908 shares of the company’s stock worth $279,000 after buying an additional 1,731 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new stake in shares of Rogers Communication during the second quarter worth approximately $281,000. 49.28% of the stock is owned by institutional investors and hedge funds.
Rogers Communication Company Profile
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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