Rogers Communication Inc. (RCI) Sees Unusually-High Trading Volume
Rogers Communication Inc. (NYSE:RCI) saw unusually-high trading volume on Wednesday . Approximately 344,747 shares changed hands during trading, an increase of 16% from the previous session’s volume of 297,914 shares.The stock last traded at $41.39 and had previously closed at $40.80.
Several research analysts recently commented on RCI shares. Royal Bank Of Canada dropped their price target 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. Zacks Investment Research lowered Rogers Communication from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Canaccord Genuity reiterated a “hold” rating on shares of Rogers Communication in a research report on Tuesday, April 19th. National Bank Financial upgraded Rogers Communication from a “neutral” rating to a “buy” rating in a research report on Thursday, April 7th. Finally, TD Securities reiterated a “buy” rating and issued a $58.00 price target on shares of Rogers Communication in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of C$49.11.
The company has a market capitalization of $21.33 billion and a PE ratio of 20.14. The firm’s 50 day moving average is $39.13 and its 200-day moving average is $37.45.
Rogers Communication (NYSE:RCI) last posted its quarterly earnings results on Monday, April 18th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.02. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the business posted $0.53 earnings per share. Rogers Communication’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts expect that Rogers Communication Inc. will post $2.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 4th. Investors of record on Sunday, June 12th were issued a $0.3745 dividend. The ex-dividend date was Wednesday, June 8th. This represents a $1.50 annualized dividend and a yield of 3.61%. This is an increase from Rogers Communication’s previous quarterly dividend of $0.34.
A number of hedge funds recently bought and sold shares of RCI. 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. Bollard Group LLC increased its stake in Rogers Communication by 0.7% in the fourth quarter. Bollard Group LLC now owns 31,724 shares of the company’s stock valued at $1,093,000 after buying an additional 217 shares during the period. Mawer Investment Management Ltd. increased its stake in Rogers Communication by 3.9% in the fourth quarter. Mawer Investment Management Ltd. now owns 5,582,987 shares of the company’s stock valued at $192,431,000 after buying an additional 211,749 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in Rogers Communication by 22.1% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,202,855 shares of the company’s stock valued at $105,120,000 after buying an additional 399,100 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in Rogers Communication by 20.1% in the fourth quarter. OppenheimerFunds Inc. now owns 648,005 shares of the company’s stock valued at $22,348,000 after buying an additional 108,589 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.