Rogers Communication Inc. (RCI) Given “Outperform” Rating at Scotiabank
Scotiabank reiterated their outperform rating on shares of Rogers Communication Inc. (NYSE:RCI) in a research report sent to investors on Tuesday morning. Scotiabank currently has a $60.00 price objective on the stock.
RCI has been the topic of several other reports. Zacks Investment Research raised shares of Rogers Communication from a strong sell rating to a hold rating in a research report on Wednesday, July 27th. TheStreet raised shares of Rogers Communication from a hold rating to a buy rating in a research report on Thursday, July 21st. Credit Suisse Group AG reissued a neutral rating and issued a $54.00 target price (up from $53.00) on shares of Rogers Communication in a research report on Tuesday. 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. Finally, Barclays PLC set a $40.00 target price on shares of Rogers Communication and gave the stock a hold rating in a research report on Friday, October 14th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of C$50.80.
Rogers Communication (NYSE:RCI) opened at 41.76 on Tuesday. Rogers Communication has a 52 week low of $32.50 and a 52 week high of $45.50. The stock has a market cap of $21.50 billion, a P/E ratio of 20.29 and a beta of 0.87. The stock has a 50 day moving average of $42.18 and a 200-day moving average of $40.92.
Rogers Communication (NYSE:RCI) last released its earnings results on Monday, October 17th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by $0.03. Rogers Communication had a return on equity of 23.89% and a net margin of 8.53%. The business earned $3.49 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts forecast that Rogers Communication will post $2.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Sunday, September 11th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.62%. This is an increase from Rogers Communication’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, September 7th. Rogers Communication’s payout ratio is currently 86.98%.
A number of hedge funds have recently bought and sold shares of RCI. Royal Bank of Canada increased its stake in Rogers Communication by 11.8% in the first quarter. Royal Bank of Canada now owns 36,359,454 shares of the company’s stock valued at $1,455,104,000 after buying an additional 3,848,069 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in shares of Rogers Communication by 4.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 23,399,933 shares of the company’s stock worth $940,746,000 after buying an additional 1,077,355 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of 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 last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Rogers Communication by 28.0% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,592,055 shares of the company’s stock worth $135,564,000 after buying an additional 567,700 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. boosted 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 last quarter. 49.28% of the stock is owned by institutional investors.
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.
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