Rogers Communication Inc. to Post FY2017 Earnings of $2.28 Per Share, Cormark Forecasts (RCI)
Rogers Communication Inc. (NYSE:RCI) – Equities research analysts at Cormark reduced their FY2017 earnings per share (EPS) estimates for Rogers Communication in a research note issued to investors on Tuesday. Cormark analyst D. Mcfadgen now anticipates that the brokerage will earn $2.28 per share for the year, down from their previous forecast of $2.42.
RCI has been the subject of several other reports. Zacks Investment Research upgraded Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Wednesday, September 21st. TD Securities reiterated a “buy” rating and set a $58.00 price objective on shares of Rogers Communication in a research note on Wednesday, July 6th. TheStreet upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Bank of America Corp. initiated coverage on Rogers Communication in a research note on Tuesday, July 5th. They set a “neutral” rating for the company. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Rogers Communication in a research note on Tuesday, July 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$50.00.
Rogers Communication (NYSE:RCI) traded down 0.02% on Thursday, reaching $41.35. The company’s stock had a trading volume of 133,506 shares. Rogers Communication has a 52 week low of $32.50 and a 52 week high of $45.50. The company has a 50 day moving average of $42.36 and a 200 day moving average of $40.87. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 20.09 and a beta of 0.87.
Rogers Communication (NYSE:RCI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The firm earned $3.46 billion during the quarter, compared to analyst estimates of $3.47 billion. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. Rogers Communication’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCI. Blue Chip Partners Inc. boosted its position in Rogers Communication by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the company’s stock worth $165,000 after buying an additional 35 shares during the period. Advisory Services Network LLC boosted its position in Rogers Communication by 1.8% in the third quarter. Advisory Services Network LLC now owns 9,615 shares of the company’s stock worth $408,000 after buying an additional 171 shares during the period. Bollard Group LLC boosted its position in Rogers Communication by 0.6% in the second quarter. Bollard Group LLC now owns 32,199 shares of the company’s stock worth $1,301,000 after buying an additional 196 shares during the period. Stifel Financial Corp boosted its position in Rogers Communication by 4.3% in the second quarter. Stifel Financial Corp now owns 5,997 shares of the company’s stock worth $244,000 after buying an additional 248 shares during the period. Finally, Monarch Capital Management Inc. boosted its position in Rogers Communication by 1.4% in the second quarter. Monarch Capital Management Inc. now owns 21,500 shares of the company’s stock worth $869,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 49.28% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a yield of 4.64%. Rogers Communication’s dividend payout ratio is currently 71.36%.
Rogers Communication Company Profile
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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