RBC Capital Markets Reiterates Outperform Rating for Rogers Communication Inc. (RCI)
Rogers Communication Inc. (NYSE:RCI)‘s stock had its “outperform” rating reissued by investment analysts at RBC Capital Markets in a research report issued on Tuesday.
A number of other equities analysts also recently weighed in on RCI. 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 note on Wednesday, September 21st. TD Securities reissued a “buy” rating and set a $58.00 price target 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. Canaccord Genuity reissued a “hold” rating on shares of Rogers Communication in a research report on Tuesday, July 19th. Finally, Barclays PLC set a $40.00 price target on shares of Rogers Communication and gave the company a “hold” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Rogers Communication has a consensus rating of “Buy” and a consensus target price of C$50.00.
Shares of Rogers Communication (NYSE:RCI) traded up 0.739% during midday trading on Tuesday, reaching $41.595. 260,325 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $42.23 and a 200-day moving average of $40.91. The stock has a market cap of $21.41 billion, a price-to-earnings ratio of 20.211 and a beta of 0.87. Rogers Communication has a one year low of $32.50 and a one year high of $45.50.
Rogers Communication (NYSE:RCI) last announced its earnings results on Monday, October 17th. The company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.03. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the business posted $0.92 EPS. Rogers Communication’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Rogers Communication will post $2.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Sunday, September 11th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Wednesday, September 7th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. Rogers Communication’s dividend payout ratio (DPR) is currently 71.36%.
Several hedge funds and other institutional investors have recently modified their holdings of RCI. Barclays PLC boosted its position in shares of Rogers Communication by 22.2% in the first quarter. Barclays PLC now owns 151,962 shares of the company’s stock valued at $6,078,000 after buying an additional 27,630 shares in the last quarter. Natixis boosted its position in Rogers Communication by 77.8% in the first quarter. Natixis now owns 88,568 shares of the company’s stock worth $3,561,000 after buying an additional 38,750 shares during the period. Legal & General Group Plc boosted its position in Rogers Communication by 1.3% in the first quarter. Legal & General Group Plc now owns 1,942,128 shares of the company’s stock worth $78,077,000 after buying an additional 24,694 shares during the period. AMP Capital Investors Ltd boosted 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 worth $6,485,000 after buying an additional 2,674 shares during the period. Finally, Renaissance Technologies LLC boosted its position in 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. Institutional investors and hedge funds own 49.28% of the company’s stock.
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.