Rogers Communication Inc. (RCI) Sees Unusually-High Trading Volume
Rogers Communication Inc. (NYSE:RCI) saw an uptick in trading volume on Tuesday . 488,078 shares changed hands during mid-day trading, an increase of 63% from the previous session’s volume of 299,765 shares.The stock last traded at $44.65 and had previously closed at $44.91.
Several analysts recently commented on the company. 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 reiterated a “buy” rating and set a $58.00 price target on shares of Rogers Communication in a research report on Wednesday, July 6th. Canaccord Genuity reiterated a “hold” rating on shares of Rogers Communication in a research report on Tuesday, July 19th. Finally, Bank of America Corp. assumed coverage on Rogers Communication in a research report on Tuesday, July 5th. They set a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Rogers Communication currently has an average rating of “Buy” and a consensus price target of C$49.11.
The company’s 50-day moving average is $42.60 and its 200 day moving average is $39.22. The firm has a market cap of $22.98 billion and a price-to-earnings ratio of 21.44.
Rogers Communication (NYSE:RCI) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The business earned $3.46 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. On average, equities research analysts expect that Rogers Communication Inc. will post $2.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Sunday, September 11th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.30%. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37.
Several hedge funds have bought and sold shares of the stock. Morgan Stanley increased 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. 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 worth $2,637,000 after buying an additional 15,881 shares during the last quarter. 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 worth $4,101,000 after buying an additional 6,300 shares during the last quarter. Bridgewater Associates LP increased its stake in Rogers Communication by 91.6% in the fourth quarter. Bridgewater Associates LP now owns 473,900 shares of the company’s stock worth $16,280,000 after buying an additional 226,600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Rogers Communication by 42.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,118,395 shares of the company’s stock worth $107,127,000 after buying an additional 923,020 shares during the last quarter.
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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