RCI has been the subject of a number of other reports. Barclays PLC increased their price objective on Rogers Communication from $56.00 to $58.00 and gave the stock an equal weight rating in a report on Friday. Zacks Investment Research downgraded Rogers Communication from a buy rating to a hold rating in a report on Friday, September 22nd. Morgan Stanley increased their price target on Rogers Communication from $63.00 to $67.00 and gave the company an equal weight rating in a research report on Friday, August 25th. Finally, BidaskClub raised Rogers Communication from a buy rating to a strong-buy rating in a research report on Sunday, July 16th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Rogers Communication has an average rating of Buy and an average target price of $61.00.
Rogers Communication (NYSE:RCI) traded up 0.25% during midday trading on Thursday, reaching $53.01. The company had a trading volume of 395,166 shares. The company’s 50-day moving average is $52.35 and its 200 day moving average is $49.11. The company has a market cap of $27.29 billion, a PE ratio of 32.05 and a beta of 0.86. Rogers Communication has a 52-week low of $37.03 and a 52-week high of $54.24.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.19). The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.63 billion. Rogers Communication had a return on equity of 32.10% and a net margin of 9.20%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, equities research analysts forecast that Rogers Communication will post $2.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, December 8th. This represents a $1.92 annualized dividend and a yield of 3.62%. Rogers Communication’s dividend payout ratio (DPR) is presently 81.48%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Westpac Banking Corp boosted its position in Rogers Communication by 5.4% during the second quarter. Westpac Banking Corp now owns 117,004 shares of the Wireless communications provider’s stock valued at $7,166,000 after purchasing an additional 6,000 shares during the last quarter. Baskin Financial Services Inc. boosted its position in Rogers Communication by 0.7% during the second quarter. Baskin Financial Services Inc. now owns 316,859 shares of the Wireless communications provider’s stock valued at $14,948,000 after purchasing an additional 2,330 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its position in Rogers Communication by 4.4% during the second quarter. OMERS ADMINISTRATION Corp now owns 1,981,560 shares of the Wireless communications provider’s stock valued at $93,455,000 after purchasing an additional 83,500 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Rogers Communication during the second quarter valued at approximately $21,915,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rogers Communication by 15.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 150,534 shares of the Wireless communications provider’s stock valued at $7,100,000 after purchasing an additional 19,830 shares during the last quarter. 47.42% of the stock is owned by hedge funds and other institutional investors.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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