Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Research analysts at Desjardins dropped their FY2018 earnings estimates for shares of Rogers Communications in a research note issued to investors on Thursday, Zacks Investment Research reports. Desjardins analyst M. Yaghi now forecasts that the Wireless communications provider will earn $3.10 per share for the year, down from their previous estimate of $3.25. Desjardins has a “Buy” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Barclays raised their target price on shares of Rogers Communications from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Zacks Investment Research cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Morgan Stanley raised their target price on shares of Rogers Communications from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. Bank of America started coverage on shares of Rogers Communications in a research report on Tuesday, November 21st. They issued a “buy” rating for the company. Finally, TheStreet raised shares of Rogers Communications from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $63.50.
Shares of Rogers Communications (NYSE RCI) opened at $49.78 on Monday. The stock has a market cap of $25,710.00, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. Rogers Communications has a twelve month low of $38.62 and a twelve month high of $54.95. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.41 and a quick ratio of 0.38.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.19). The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.63 billion. Rogers Communications had a return on equity of 31.06% and a net margin of 13.04%. Rogers Communications’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.83 EPS.
Large investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in Rogers Communications by 14.6% during the 2nd quarter. US Bancorp DE now owns 3,930 shares of the Wireless communications provider’s stock valued at $185,000 after purchasing an additional 501 shares in the last quarter. Trexquant Investment LP bought a new stake in Rogers Communications during the 3rd quarter valued at about $205,000. Fort Pitt Capital Group LLC bought a new stake in Rogers Communications during the 3rd quarter valued at about $211,000. Cumberland Partners Ltd bought a new stake in Rogers Communications during the 3rd quarter valued at about $245,000. Finally, Institute for Wealth Management LLC. bought a new stake in Rogers Communications during the 2nd quarter valued at about $271,000. Institutional investors and hedge funds own 47.15% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, December 8th. This represents a $1.92 dividend on an annualized basis and a yield of 3.86%. Rogers Communications’s dividend payout ratio is currently 78.17%.
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About Rogers Communications
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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