FY2016 EPS Estimates for Rogers Communication Inc. Reduced by Analyst (RCI)
Rogers Communication Inc. (NYSE:RCI) – Equities research analysts at Cormark reduced their FY2016 EPS estimates for Rogers Communication in a research note issued to investors on Tuesday. Cormark analyst D. Mcfadgen now forecasts that the firm will post earnings of $2.09 per share for the year, down from their prior estimate of $2.21.
Several other analysts have also recently commented on RCI. Barclays PLC restated a “hold” rating and issued a $40.00 target price on shares of Rogers Communication in a research note on Friday. Canaccord Genuity restated a “hold” rating on shares of Rogers Communication in a research note on Friday, June 17th. Zacks Investment Research cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Finally, Bank of America Corp. initiated coverage on shares of Rogers Communication in a research note on Tuesday, July 5th. They issued a “neutral” rating for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Rogers Communication presently has an average rating of “Buy” and an average target price of C$50.00.
Shares of Rogers Communication (NYSE:RCI) opened at 41.33 on Friday. The company’s 50-day moving average is $42.29 and its 200 day moving average is $40.89. The stock has a market cap of $21.27 billion, a PE ratio of 20.08 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 released its earnings results on Thursday, July 21st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The business earned $3.46 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.80 earnings per share.
Institutional investors have recently bought and sold shares of the stock. AMP Capital Investors Ltd increased its position in Rogers Communication by 1.7% in the first quarter. AMP Capital Investors Ltd now owns 160,760 shares of the company’s stock valued at $6,485,000 after buying an additional 2,674 shares during the period. Renaissance Technologies LLC increased its stake in shares of Rogers Communication by 34.4% in the first quarter. Renaissance Technologies LLC now owns 537,500 shares of the company’s stock worth $21,519,000 after buying an additional 137,700 shares during the period. Prudential PLC increased its stake in shares of Rogers Communication by 44.5% in the first quarter. Prudential PLC now owns 25,000 shares of the company’s stock worth $1,001,000 after buying an additional 7,700 shares during the period. PCJ Investment Counsel Ltd. increased its stake in shares of Rogers Communication by 23.5% in the first quarter. PCJ Investment Counsel Ltd. now owns 507,416 shares of the company’s stock worth $20,399,000 after buying an additional 96,596 shares during the period. Finally, Quadrature Capital Ltd increased its stake in shares of Rogers Communication by 137.5% in the first quarter. Quadrature Capital Ltd now owns 20,900 shares of the company’s stock worth $835,000 after buying an additional 12,100 shares during the period. Hedge funds and other institutional investors own 49.28% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Sunday, September 11th were issued 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 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend was Wednesday, September 7th. Rogers Communication’s dividend payout ratio (DPR) is 71.36%.
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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