StockNews.com upgraded shares of Rogers Communications (NYSE:RCI – Free Report) (TSE:RCI.B) from a sell rating to a hold rating in a report released on Friday.
Separately, Barclays cut their price target on shares of Rogers Communications from $52.00 to $46.00 and set an overweight rating for the company in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $46.00.
Rogers Communications Stock Down 1.1 %
Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. On average, sell-side analysts expect that Rogers Communications will post 3.64 EPS for the current year.
Rogers Communications Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be given a dividend of $0.3658 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s dividend payout ratio (DPR) is currently 183.75%.
Institutional Trading of Rogers Communications
Several institutional investors and hedge funds have recently made changes to their positions in RCI. Fifth Third Bancorp raised its position in shares of Rogers Communications by 120.1% during the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock valued at $31,000 after buying an additional 359 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Rogers Communications during the 1st quarter valued at $42,000. Lindbrook Capital LLC raised its position in shares of Rogers Communications by 120.8% during the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 499 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Rogers Communications during the 4th quarter valued at $51,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Rogers Communications by 106.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock valued at $68,000 after buying an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.
Rogers Communications Company Profile
Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.
Further Reading
- Five stocks we like better than Rogers Communications
- ESG Stocks, What Investors Should Know
- MarketBeat Week in Review – 6/3 – 6/7
- What is the Dogs of the Dow Strategy? Overview and Examples
- Geron Corporation: FDA Approval Fuels Stock Price Surge
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Intel’s Secret Plan for a Double-Digit Stock Rally Revealed
Receive News & Ratings for Rogers Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communications and related companies with MarketBeat.com's FREE daily email newsletter.