According to Zacks, “Rogers Communications is the first wireless operator in Canada to offer 3 Internet of Things (IoT) services – End-to-End Incident Management, Farm & Food Monitoring, Level Monitoring, to business enterprises. Rogers’s decision to purchase broadcasting company – Tillsonburg Broadcasting Company Limited bodes well. The company’s newly launched cost-effective, simple and competitive IaaS Cloud services and Rogers Unison (a new mobile solution) have increased its postpaid wireless and internet subscribers. The company has also been focusing on the business enterprise segment. Moreover, the company aims to launch its Internet TV services with 4K picture quality by the end of the year. However, intense wireless and cable TV industry competition, continuous softness in the advertising market and loss of viewers to video streaming service providers remain potent headwinds. Loss incurred from the shutdown of Shomi is another concern.”
Other analysts also recently issued research reports about the company. Canaccord Genuity reaffirmed a hold rating on shares of Rogers Communication in a research note on Tuesday, July 19th. Scotiabank reaffirmed an outperform rating and set a $56.00 target price on shares of Rogers Communication in a research note on Wednesday, June 15th. Bank of America Corp. assumed coverage on Rogers Communication in a research note on Tuesday, July 5th. They set a neutral rating on the stock. TheStreet raised Rogers Communication from a hold rating to a buy rating in a research note on Thursday, July 21st. Finally, TD Securities reaffirmed a buy rating and set a $58.00 target price on shares of Rogers Communication in a research note on Wednesday, July 6th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Rogers Communication has an average rating of Buy and a consensus target price of C$50.00.
Rogers Communication (NYSE:RCI) traded up 0.53% during mid-day trading on Thursday, hitting $41.58. The company had a trading volume of 52,829 shares. Rogers Communication has a one year low of $32.50 and a one year high of $45.50. The company has a market cap of $21.40 billion, a PE ratio of 20.20 and a beta of 0.87. The company’s 50 day moving average price is $42.36 and its 200-day moving average price is $40.87.
Rogers Communication (NYSE:RCI) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The business earned $3.46 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Rogers Communication will post $2.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Sunday, September 11th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.64%. Rogers Communication’s payout ratio is 71.36%.
Several large investors have recently made changes to their positions in the company. Capstone Asset Management Co. raised its stake in shares of Rogers Communication by 4.1% in the third quarter. Capstone Asset Management Co. now owns 47,466 shares of the company’s stock worth $2,014,000 after buying an additional 1,850 shares during the period. Advisory Services Network LLC increased its position in shares of 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 in the last quarter. Monarch Capital Management Inc. increased its position in shares of Rogers Communication by 1.4% in the third quarter. Monarch Capital Management Inc. now owns 21,800 shares of the company’s stock worth $925,000 after buying an additional 300 shares in the last quarter. Tobam increased its position in shares of Rogers Communication by 7.4% in the second quarter. Tobam now owns 268,000 shares of the company’s stock worth $10,793,000 after buying an additional 18,500 shares in the last quarter. Finally, Blue Chip Partners Inc. increased its position in shares of 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 in the last quarter. 49.28% of the stock is currently owned by institutional investors.
About Rogers Communication
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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