Rogers Communication Inc. (NYSE:RCI) – Cormark cut their FY2017 earnings per share (EPS) estimates for Rogers Communication in a research note issued to investors on Tuesday. Cormark analyst D. Mcfadgen now expects that the brokerage will earn $2.28 per share for the year, down from their prior estimate of $2.42.

Rogers Communication (NYSE:RCI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The company earned $3.46 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company earned $0.80 EPS. Rogers Communication’s revenue was up 1.5% on a year-over-year basis.

Earnings History and Estimates for Rogers Communication (NYSE:RCI)

Other equities research analysts have also recently issued research reports about the stock. TD Securities reissued a “buy” rating and issued a $58.00 target price on shares of Rogers Communication in a research report on Wednesday, July 6th. TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Wednesday, September 21st. Canaccord Genuity reissued a “hold” rating on shares of Rogers Communication in a research report on Friday, June 17th. Finally, Barclays PLC reissued a “hold” rating and issued a $40.00 target price on shares of Rogers Communication in a research report on Friday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Rogers Communication presently has an average rating of “Buy” and an average price target of C$50.00.

Shares of Rogers Communication (NYSE:RCI) traded down 0.02% during midday trading on Thursday, hitting $41.35. 133,506 shares of the stock traded hands. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of 20.09 and a beta of 0.87. Rogers Communication has a 52 week low of $32.50 and a 52 week high of $45.50. The firm’s 50-day moving average is $42.36 and its 200 day moving average is $40.87.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Chip Partners Inc. increased its position in Rogers Communication by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the company’s stock valued at $165,000 after buying an additional 35 shares in the last quarter. Advisory Services Network LLC increased its position in Rogers Communication by 1.8% in the third quarter. Advisory Services Network LLC now owns 9,615 shares of the company’s stock valued at $408,000 after buying an additional 171 shares in the last quarter. Bollard Group LLC increased its position in Rogers Communication by 0.6% in the second quarter. Bollard Group LLC now owns 32,199 shares of the company’s stock valued at $1,301,000 after buying an additional 196 shares in the last quarter. Stifel Financial Corp increased its position in Rogers Communication by 4.3% in the second quarter. Stifel Financial Corp now owns 5,997 shares of the company’s stock valued at $244,000 after buying an additional 248 shares in the last quarter. Finally, Monarch Capital Management Inc. increased its position in Rogers Communication by 1.4% in the second quarter. Monarch Capital Management Inc. now owns 21,500 shares of the company’s stock valued at $869,000 after buying an additional 300 shares in the last quarter. 49.28% of the stock is owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Sunday, September 11th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.64%. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. Rogers Communication’s dividend payout ratio is 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.

5 Day Chart for NYSE:RCI

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