Rogers Communication Inc. (RCI) Receives “Neutral” Rating from Credit Suisse Group AG
Credit Suisse Group AG reaffirmed their neutral rating on shares of Rogers Communication Inc. (NYSE:RCI) in a report issued on Tuesday. The firm currently has a $54.00 price objective on the stock, up from their previous price objective of $53.00.
A number of other brokerages have also weighed in on RCI. Zacks Investment Research upgraded Rogers Communication from a strong sell rating to a hold rating in a research report on Wednesday, July 27th. TheStreet upgraded Rogers Communication from a hold rating to a buy rating in a research report on Thursday, July 21st. TD Securities restated a buy rating and issued a $58.00 target price on shares of Rogers Communication in a research note on Wednesday, July 6th. Barclays PLC set a $40.00 target price on Rogers Communication and gave the company a hold rating in a research note on Friday, October 14th. Finally, RBC Capital Markets restated an outperform rating on shares of Rogers Communication in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of C$50.80.
Shares of Rogers Communication (NYSE:RCI) opened at 41.76 on Tuesday. The company’s 50-day moving average price is $42.18 and its 200 day moving average price is $40.92. The company has a market cap of $21.50 billion, a P/E ratio of 20.29 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 issued its quarterly earnings data 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. The business earned $3.49 billion during the quarter, compared to the consensus estimate of $3.45 billion. Rogers Communication had a return on equity of 23.89% and a net margin of 8.53%. Rogers Communication’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. On average, equities research analysts anticipate that Rogers Communication will post $2.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Sunday, September 11th were paid a $0.48 dividend. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. 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 4.62%. Rogers Communication’s dividend payout ratio is 86.98%.
Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its position 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 during the period. Blue Chip Partners Inc. raised 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 worth $165,000 after buying an additional 35 shares during the period. Stifel Financial Corp raised 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 worth $244,000 after buying an additional 248 shares during the period. Princeton Alpha Management LP raised its position 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 during the period. Finally, KCG Holdings Inc. acquired a new position in Rogers Communication during the second quarter worth $281,000. 49.28% of the stock is owned by hedge funds and other institutional investors.
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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