Rogers Communication Inc. (RCI) Shares Down 0.3%
Rogers Communication Inc. (NYSE:RCI) dropped 0.3% during trading on Friday . The company traded as low as $40.93 and last traded at $41.06, with a volume of 129,582 shares trading hands. The stock had previously closed at $41.20.
RCI has been the subject of a number of analyst reports. National Bank Financial raised Rogers Communication from a “neutral” rating to a “buy” rating in a research report on Thursday, April 7th. Zacks Investment Research raised Rogers Communication from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Friday, April 8th. Royal Bank Of Canada decreased their target price on Rogers Communication from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Tuesday, April 19th. Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Tuesday, April 19th. Finally, Goldman Sachs Group Inc. raised their target price on Rogers Communication from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of C$49.11.
The company has a 50-day moving average of $39.22 and a 200 day moving average of $37.48. The company has a market capitalization of $21.00 billion and a price-to-earnings ratio of 19.75.
Rogers Communication (NYSE:RCI) last released its earnings results on Monday, April 18th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The business earned $3.25 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Rogers Communication Inc. will post $2.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 4th. Shareholders of record on Sunday, June 12th were issued a $0.3745 dividend. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.34. This represents a $1.50 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Wednesday, June 8th.
Other large investors recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd increased its stake in Rogers Communication by 2.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 109,537 shares of the company’s stock valued at $3,780,000 after buying an additional 2,500 shares during the period. Dimensional Fund Advisors LP increased its stake in Rogers Communication by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 119,005 shares of the company’s stock valued at $4,101,000 after buying an additional 6,300 shares during the period. Sei Investments Co. increased its stake in Rogers Communication by 4.0% in the fourth quarter. Sei Investments Co. now owns 252,061 shares of the company’s stock valued at $8,685,000 after buying an additional 9,781 shares during the period. Advisors Asset Management Inc. increased its stake in Rogers Communication by 26.2% in the fourth quarter. Advisors Asset Management Inc. now owns 76,527 shares of the company’s stock valued at $2,637,000 after buying an additional 15,881 shares during the period. Finally, Waldron LP bought a new stake in Rogers Communication during the fourth quarter valued at approximately $1,129,000.
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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