Rogers Communications (NYSE:RCI) Issues Earnings Results

Rogers Communications (NYSE:RCI) (TSE:RCI.B) issued its quarterly earnings results on Wednesday. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01, reports. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion.

Rogers Communications Stock Performance

NYSE:RCI traded down $0.08 during midday trading on Friday, reaching $37.96. 1,265,055 shares of the company traded hands, compared to its average volume of 925,322. Rogers Communications has a twelve month low of $36.55 and a twelve month high of $50.00. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 47.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.84. The company has a fifty day moving average price of $41.67 and a 200 day moving average price of $43.12.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be given a $0.3658 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.46 annualized dividend and a dividend yield of 3.85%. Rogers Communications’s payout ratio is 183.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC raised its stake in Rogers Communications by 317.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider’s stock valued at $1,301,000 after acquiring an additional 25,766 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Rogers Communications by 101.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock valued at $5,040,000 after acquiring an additional 66,231 shares in the last quarter. Invesco Ltd. raised its stake in Rogers Communications by 13.7% during the 3rd quarter. Invesco Ltd. now owns 200,294 shares of the Wireless communications provider’s stock valued at $7,689,000 after acquiring an additional 24,178 shares in the last quarter. Cumberland Partners Ltd raised its stake in Rogers Communications by 3.4% during the 4th quarter. Cumberland Partners Ltd now owns 718,261 shares of the Wireless communications provider’s stock valued at $33,622,000 after acquiring an additional 23,774 shares in the last quarter. Finally, Scotia Capital Inc. raised its stake in Rogers Communications by 9.3% during the 3rd quarter. Scotia Capital Inc. now owns 2,625,594 shares of the Wireless communications provider’s stock valued at $100,617,000 after acquiring an additional 224,293 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RCI shares. StockNews.com downgraded Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Barclays dropped their target price on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.