Rogers Communication Inc. (RCI) Sets New 12-Month High at $41.73
Rogers Communication Inc. (NYSE:RCI)’s share price hit a new 52-week high on Thursday . The stock traded as high as $41.73 and last traded at $41.30, with a volume of 86,436 shares trading hands. The stock had previously closed at $41.44.
A number of equities analysts recently commented on the stock. National Bank Financial raised shares of Rogers Communication from a “neutral” rating to a “buy” rating in a research report on Thursday, April 7th. Bank of America Corp. assumed coverage on shares of Rogers Communication in a research report on Tuesday. They set a “neutral” rating on the stock. Royal Bank Of Canada lowered their price target on shares of Rogers Communication from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 19th. Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Friday, June 17th. Finally, Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Friday, April 8th. One research 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’s stock. Rogers Communication presently has a consensus rating of “Hold” and a consensus price target of C$49.11.
The company has a market cap of $21.00 billion and a P/E ratio of 19.75. The firm’s 50 day moving average price is $39.30 and its 200-day moving average price is $37.52.
Rogers Communication (NYSE:RCI) last issued its quarterly earnings results on Monday, April 18th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.24 billion. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Analysts anticipate that Rogers Communication Inc. will post $2.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 4th. Shareholders of record on Sunday, June 12th were issued a dividend of $0.3745 per share. This is an increase from Rogers Communication’s previous quarterly dividend of $0.34. This represents a $1.50 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Wednesday, June 8th.
A number of large investors have added to or reduced their stakes in RCI. Waldron LP acquired a new stake in Rogers Communication during the fourth quarter valued at approximately $1,129,000. 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 valued at $2,637,000 after buying an additional 15,881 shares during the period. Gulf International Bank UK Ltd increased 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 valued at $3,780,000 after buying an additional 2,500 shares during the period. 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. 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.
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