Rogers Sees Overall Revenue Increase For Third Quarter, But Media Division Lags

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CIBC upped their price objective on shares of Rogers Communications from C$62.00 to C$65.00 and gave the stock a neutral rating in a research report on Friday, July 21st.

According to the the latest analyst ratings which have been released, 3 brokers have issued a rating of "buy", 5 brokers "outperform", 9 brokers "hold", 0 brokers "underperform" and 0 brokers "sell".

01/27/2017 - Rogers Communication, Inc. was upgraded to "buy" by analysts at Canaccord Genuity. Blue Chip Partners Inc. raised its stake in shares of Rogers Communication by 0.9% in the second quarter. As concerns shares volumes, in share Capital Company has 507.95 million outstanding shares among them 368.45 million shares have been floated in market exchange.

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Profit more than doubled to $467-million, but the surge was due in part to a favourable comparison to the same time previous year, when the company said it would record a $140-million writedown as it shut down its online streaming service Shomi, a joint venture with Shaw Communications Inc. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 23.30 and a beta of 0.92. The 50 day moving average went up by +1.39% whereas the 200 day moving average was up $4.00 or +8.15%.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 19th. Third-quarter revenue surged 3% largely driven by Wireless service revenue growth of 7%. Its subsidiaries include Rogers Communications Canada Inc. and Rogers Media Inc.

COPYRIGHT VIOLATION WARNING: "Rogers Communication, Inc". They now have a Dollars 55 price target on the stock.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. This dividend amount represented a yield of $3.01. The ex-dividend date is Thursday, December 8th. Rogers Communication's dividend payout ratio (DPR) is presently 81.48%.

Want to see what other hedge funds are holding RCI? APG Asset Management N.V. increased its holdings in Rogers Communication by 82.0% during the 3rd quarter. Baskin Financial Services Inc. now owns 316,859 shares of the Wireless communications provider's stock valued at $14,948,000 after purchasing an additional 2,330 shares during the last quarter. Can's holdings in Rogers Communication were worth $202,353,000 as of its most recent SEC filing. OMERS ADMINISTRATION Corp now owns 1,981,560 shares of the Wireless communications provider's stock valued at $93,455,000 after purchasing an additional 83,500 shares during the last quarter. Baskin Financial Services Inc. boosted its position in Rogers Communication by 0.7% during the second quarter. Hedge funds and other institutional investors own 47.42% of the company's stock.

Rogers is a leading diversified Canadian communications and media company that's working to deliver a great experience to our customers every day. The Company is a provider of wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media.

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