Rogers Communications (NYSE:RCI) Issues Earnings Results

Rogers Communications (NYSE:RCI) (TSE:RCI.B) posted its quarterly earnings data on Wednesday. The Wireless communications provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01, reports. Rogers Communications had a return on equity of 21.71% and a net margin of 2.90%. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.64 billion.

Rogers Communications Stock Down 0.3 %

RCI opened at $38.04 on Friday. The business has a 50 day simple moving average of $41.83 and a 200-day simple moving average of $43.12. The stock has a market capitalization of $20.11 billion, a P/E ratio of 47.55, a P/E/G ratio of 1.65 and a beta of 0.59. Rogers Communications has a 12 month low of $36.55 and a 12 month high of $50.00. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.89 and a quick ratio of 0.84.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be issued a $0.3658 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.46 annualized dividend and a dividend yield of 3.85%. Rogers Communications’s dividend payout ratio is currently 183.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com cut Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Barclays reduced their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Hedge Funds Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently bought and sold shares of RCI. SG Americas Securities LLC acquired a new position in Rogers Communications during the third quarter worth $827,000. Cigna Investments Inc. New raised its holdings in Rogers Communications by 4.9% during the third quarter. Cigna Investments Inc. New now owns 6,851 shares of the Wireless communications provider’s stock worth $265,000 after purchasing an additional 317 shares during the last quarter. Everett Harris & Co. CA raised its holdings in Rogers Communications by 3.0% during the third quarter. Everett Harris & Co. CA now owns 89,600 shares of the Wireless communications provider’s stock worth $3,440,000 after purchasing an additional 2,580 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in Rogers Communications by 2.2% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 236,612 shares of the Wireless communications provider’s stock worth $9,046,000 after purchasing an additional 5,195 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Rogers Communications by 5.8% during the third quarter. Mackenzie Financial Corp now owns 9,148,044 shares of the Wireless communications provider’s stock worth $339,007,000 after purchasing an additional 505,427 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

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.