Rogers Communications (RCI) Sees Large Volume Increase

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Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) saw an uptick in trading volume on Tuesday . 852,395 shares traded hands during trading, an increase of 111% from the previous session’s volume of 403,142 shares.The stock last traded at $52.13 and had previously closed at $51.23.

Several research firms have weighed in on RCI. Zacks Investment Research upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Monday, January 28th. Scotia Howard Weill reiterated a “sector perform” rating on shares of Rogers Communications in a research report on Monday, April 22nd. Royal Bank of Canada reiterated a “hold” rating on shares of Rogers Communications in a research report on Tuesday, April 9th. ValuEngine cut Rogers Communications from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.68.

The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $26.30 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 3.01 and a beta of 0.66.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Rogers Communications had a return on equity of 27.28% and a net margin of 13.47%. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business earned $0.93 earnings per share. Rogers Communications’s revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Rogers Communications Inc. will post 3.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be given a $0.3753 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 7th. Rogers Communications’s payout ratio is currently 45.37%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gulf International Bank UK Ltd grew its position in Rogers Communications by 3.7% in the first quarter. Gulf International Bank UK Ltd now owns 7,057 shares of the Wireless communications provider’s stock valued at $379,000 after acquiring an additional 250 shares during the last quarter. Wetherby Asset Management Inc. grew its position in Rogers Communications by 6.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 5,512 shares of the Wireless communications provider’s stock valued at $283,000 after acquiring an additional 327 shares during the last quarter. CLARET ASSET MANAGEMENT Corp grew its position in Rogers Communications by 5.0% in the fourth quarter. CLARET ASSET MANAGEMENT Corp now owns 7,082 shares of the Wireless communications provider’s stock valued at $363,000 after acquiring an additional 335 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Rogers Communications by 3.8% in the first quarter. Commonwealth Equity Services LLC now owns 9,847 shares of the Wireless communications provider’s stock valued at $530,000 after acquiring an additional 363 shares during the last quarter. Finally, Cigna Investments Inc. New grew its position in Rogers Communications by 7.7% in the fourth quarter. Cigna Investments Inc. New now owns 5,199 shares of the Wireless communications provider’s stock valued at $266,000 after acquiring an additional 373 shares during the last quarter. Institutional investors own 44.69% of the company’s stock.

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Rogers Communications Company Profile (NYSE:RCI)

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

Read More: Net Income

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