Research Analysts Set Expectations for Rogers Communication Inc.’s Q3 2016 Earnings (RCI)
Rogers Communication Inc. (NYSE:RCI) – Investment analysts at National Bank Financial issued their Q3 2016 earnings estimates for Rogers Communication in a research note issued on Thursday. National Bank Financial analyst A. Shine anticipates that the brokerage will post earnings per share of $0.68 for the quarter. National Bank Financial also issued estimates for Rogers Communication’s FY2016 earnings at $2.20 EPS and FY2017 earnings at $2.33 EPS.
Rogers Communication (NYSE:RCI) last issued its earnings results on Thursday, July 21st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share.
Several other equities analysts have also commented on RCI. Zacks Investment Research raised Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research 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 research report on Wednesday, July 6th. Scotiabank reissued an “outperform” rating and set a $56.00 price objective on shares of Rogers Communication in a research report on Wednesday, June 15th. TheStreet raised Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Tuesday, July 19th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of C$49.56.
Rogers Communication (NYSE:RCI) opened at 41.37 on Monday. Rogers Communication has a 12 month low of $32.50 and a 12 month high of $45.50. The company has a market cap of $21.30 billion, a price-to-earnings ratio of 19.96 and a beta of 0.87. The firm’s 50-day moving average is $42.61 and its 200-day moving average is $40.87.
Several large investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its stake in 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 in the last quarter. Blue Chip Partners Inc. increased its stake in 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 in the last quarter. Stifel Financial Corp increased its stake in 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 in the last quarter. Princeton Alpha Management LP increased its stake in 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 in the last quarter. Finally, KCG Holdings Inc. purchased a new stake in Rogers Communication during the second quarter worth about $281,000. 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 paid a dividend of $0.48 per share. This is an increase 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 4.64%. The ex-dividend date was Wednesday, September 7th. Rogers Communication’s payout ratio is currently 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.
Receive News & Stock Ratings for Rogers Communication Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communication Inc. and related stocks with our FREE daily email newsletter.