Rogers Communication Inc. (RCI) Hits New 1-Year High at $42.00
Shares of Rogers Communication Inc. (NYSE:RCI) hit a new 52-week high during trading on Thursday . The stock traded as high as $42.00 and last traded at $41.96, with a volume of 156,971 shares. The stock had previously closed at $41.22.
Several analysts have recently commented on the company. TD Securities restated a “buy” rating and set a $58.00 target price on shares of Rogers Communication in a report on Wednesday, July 6th. Bank of America Corp. assumed coverage on Rogers Communication in a report on Tuesday, July 5th. They set a “neutral” rating on the stock. Zacks Investment Research cut Rogers Communication from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Royal Bank Of Canada decreased their target price on Rogers Communication from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Tuesday, April 19th. Finally, Canaccord Genuity restated a “hold” rating on shares of Rogers Communication in a report on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Rogers Communication has a consensus rating of “Hold” and an average target price of C$49.11.
The stock’s 50 day moving average price is $39.55 and its 200 day moving average price is $37.65. The stock has a market cap of $21.58 billion and a price-to-earnings ratio of 20.43.
Rogers Communication (NYSE:RCI) last issued its earnings results on Monday, April 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Rogers Communication Inc. will post $2.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 4th. Shareholders of record on Sunday, June 12th were given a $0.3745 dividend. This is an increase from Rogers Communication’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.63%.
Several large investors recently added to or reduced their stakes in RCI. Advisors Asset Management Inc. raised 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 worth $2,637,000 after buying an additional 15,881 shares during the period. Gulf International Bank UK Ltd raised 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 worth $3,780,000 after buying an additional 2,500 shares during the period. Dimensional Fund Advisors LP raised 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 worth $4,101,000 after buying an additional 6,300 shares during the period. OppenheimerFunds Inc. raised its stake in Rogers Communication by 20.1% in the fourth quarter. OppenheimerFunds Inc. now owns 648,005 shares of the company’s stock worth $22,348,000 after buying an additional 108,589 shares during the period. Finally, Morgan Stanley raised its stake in Rogers Communication by 48.6% in the fourth quarter. Morgan Stanley now owns 991,455 shares of the company’s stock worth $34,166,000 after buying an additional 324,468 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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