Desjardins upgraded shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) from a hold rating to a buy rating in a research report report published on Monday, January 8th, Marketbeat.com reports. Desjardins also issued estimates for Rogers Communications’ Q4 2017 earnings at $0.68 EPS, FY2017 earnings at $2.78 EPS, FY2018 earnings at $3.15 EPS and FY2019 earnings at $3.39 EPS.
Several other equities analysts have also recently commented on RCI. Zacks Investment Research cut shares of Rogers Communications from a buy rating to a hold rating in a research report on Friday, September 22nd. Barclays lifted their price target on shares of Rogers Communications from $56.00 to $58.00 and gave the stock an equal weight rating in a report on Friday, October 20th. TheStreet raised shares of Rogers Communications from a c+ rating to a b rating in a report on Thursday, October 19th. Morgan Stanley lifted their price target on shares of Rogers Communications from $67.00 to $71.00 and gave the stock an equal weight rating in a report on Friday, November 17th. Finally, Bank of America assumed coverage on shares of Rogers Communications in a report on Tuesday, November 21st. They issued a buy rating on the stock. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $62.75.
Rogers Communications (NYSE RCI) traded down $1.04 during trading on Monday, hitting $47.53. 250,507 shares of the company’s stock traded hands, compared to its average volume of 348,017. Rogers Communications has a 1 year low of $41.33 and a 1 year high of $54.95. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.39 and a current ratio of 0.44. The company has a market cap of $25,004.32, a PE ratio of 18.57, a P/E/G ratio of 3.11 and a beta of 0.85.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 25th. The Wireless communications provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. Rogers Communications had a net margin of 12.09% and a return on equity of 30.65%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter last year, the firm earned $0.74 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. sell-side analysts expect that Rogers Communications will post 3.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 12th will be issued a $0.3843 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.23%. Rogers Communications’s dividend payout ratio (DPR) is presently 59.77%.
Several large investors have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in shares of Rogers Communications by 2.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,799,249 shares of the Wireless communications provider’s stock worth $194,400,000 after purchasing an additional 82,518 shares during the period. Aperio Group LLC grew its stake in Rogers Communications by 5.3% in the 4th quarter. Aperio Group LLC now owns 182,009 shares of the Wireless communications provider’s stock valued at $9,270,000 after buying an additional 9,087 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in Rogers Communications in the 4th quarter valued at approximately $85,673,000. Dean Capital Investments Management LLC purchased a new position in Rogers Communications in the 4th quarter valued at approximately $485,000. Finally, Bollard Group LLC grew its stake in Rogers Communications by 3.6% in the 4th quarter. Bollard Group LLC now owns 49,752 shares of the Wireless communications provider’s stock valued at $2,534,000 after buying an additional 1,742 shares in the last quarter. 47.27% of the stock is currently owned by institutional investors.
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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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