Trade Report: The Rogers Communication Inc. Expected to Earn FY2016 Earnings of $2.09 Per Share (RCI)

The Rogers Communication Inc. Expected to Earn FY2016 Earnings of $2.09 Per Share (RCI)

Rogers Communication Inc. (NYSE:RCI) – Investment analysts at Cormark lowered their FY2016 earnings estimates for Rogers Communication in a research note issued on Tuesday. Cormark analyst D. Mcfadgen now anticipates that the firm will post earnings of $2.09 per share for the year, down from their previous estimate of $2.21.

Rogers Communication (NYSE:RCI) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ 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 had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis.

A number of other equities analysts have also recently weighed in on RCI. Barclays PLC reissued a “hold” rating and issued a $40.00 price target on shares of Rogers Communication in a report on Friday. Zacks Investment Research raised Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, September 21st. TD Securities reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Rogers Communication in a research report on Wednesday, July 6th. TheStreet raised Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Tuesday, July 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Rogers Communication currently has an average rating of “Buy” and a consensus price target of C$50.00.

Shares of Rogers Communication (NYSE:RCI) traded down 0.10% during trading on Friday, hitting $41.32. The stock had a trading volume of 84,252 shares. The company has a market cap of $21.27 billion, a PE ratio of 20.08 and a beta of 0.87. The stock’s 50 day moving average is $42.36 and its 200-day moving average is $40.87. Rogers Communication has a 12-month low of $32.50 and a 12-month high of $45.50.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. boosted its position 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 in the last quarter. Advisory Services Network LLC boosted 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. boosted 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 boosted 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. boosted 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. Institutional investors own 49.28% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Sunday, September 11th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Wednesday, September 7th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. Rogers Communication’s payout ratio is currently 71.36%.

Rogers Communication Company Profile

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