Rogers Communication Inc. (RCI) Trading Down 0.3%
Rogers Communication Inc. (NYSE:RCI) dropped 0.3% during mid-day trading on Friday . The company traded as low as $40.93 and last traded at $41.06, with a volume of 129,582 shares. The stock had previously closed at $41.20.
RCI has been the topic of a number of research reports. National Bank Financial upgraded shares of Rogers Communication from a “neutral” rating to a “buy” rating in a report on Thursday, April 7th. TD Securities reissued a “buy” rating and issued a $58.00 price objective on shares of Rogers Communication in a research report on Wednesday. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Friday, April 8th. Canaccord Genuity reissued a “hold” rating on shares of Rogers Communication in a research report on Tuesday, April 19th. Finally, Bank of America Corp. initiated coverage on shares of Rogers Communication in a research report on Tuesday, July 5th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of C$49.11.
The firm has a market capitalization of $21.00 billion and a PE ratio of 19.89. The firm has a 50 day moving average price of $39.30 and a 200 day moving average price of $37.52.
Rogers Communication (NYSE:RCI) last announced its quarterly earnings results on Monday, April 18th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.02. During the same quarter last year, the business posted $0.53 earnings per share. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.24 billion. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Rogers Communication Inc. will post $2.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 4th. Shareholders of record on Sunday, June 12th were given a dividend of $0.3745 per share. The ex-dividend date of this dividend was Wednesday, June 8th. This is an increase from Rogers Communication’s previous quarterly dividend of $0.34. This represents a $1.50 dividend on an annualized basis and a yield of 3.67%.
A number of hedge funds and institutional investors have made changes to their positions in RCI. Waldron LP acquired a new position in shares of Rogers Communication during the fourth quarter worth $1,129,000. Advisors Asset Management Inc. boosted its position in shares of Rogers Communication by 26.2% in the fourth quarter. Advisors Asset Management Inc. now owns 76,527 shares of the company’s stock worth $2,637,000 after buying an additional 15,881 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of Rogers Communication by 2.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 109,537 shares of the company’s stock worth $3,780,000 after buying an additional 2,500 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Rogers Communication by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 119,005 shares of the company’s stock worth $4,101,000 after buying an additional 6,300 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Rogers Communication by 4.0% in the fourth quarter. Sei Investments Co. now owns 252,061 shares of the company’s stock worth $8,685,000 after buying an additional 9,781 shares during the period.
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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