Rogers Communications (RCI) Sees Unusually-High Trading Volume

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) saw unusually-high trading volume on Tuesday . Approximately 852,395 shares changed hands during mid-day 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.

RCI has been the subject of a number of research analyst reports. Echelon Wealth Partners downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. TD Securities downgraded shares of Rogers Communications to a “buy” rating in a report on Wednesday, February 6th. Royal Bank of Canada reiterated a “hold” rating on shares of Rogers Communications in a report on Monday, April 22nd. Raymond James downgraded shares of Rogers Communications to a “market perform” rating in a report on Wednesday, February 27th. Finally, Macquarie downgraded shares of Rogers Communications from an “outperform” rating to a “neutral” rating and set a $53.06 price target for the company. in a report on Friday, January 25th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.68.

The company has a market cap of $26.84 billion, a P/E ratio of 15.76, a PEG ratio of 3.07 and a beta of 0.66. The company has a current ratio of 0.67, a quick ratio of 0.60 and a debt-to-equity ratio of 1.77.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, April 18th. The Wireless communications provider reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Rogers Communications had a net margin of 13.47% and a return on equity of 27.28%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. As a group, research analysts anticipate that Rogers Communications Inc. will post 3.39 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be paid a $0.3753 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.50 dividend on an annualized basis and a yield of 2.84%. Rogers Communications’s payout ratio is 45.37%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its stake in Rogers Communications by 69.6% in the 1st quarter. Janus Henderson Group PLC now owns 422,902 shares of the Wireless communications provider’s stock valued at $22,752,000 after acquiring an additional 173,581 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Rogers Communications by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 9,184,653 shares of the Wireless communications provider’s stock worth $472,183,000 after purchasing an additional 237,435 shares during the last quarter. Norges Bank acquired a new stake in shares of Rogers Communications during the 4th quarter worth about $88,666,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Rogers Communications by 231.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 198,254 shares of the Wireless communications provider’s stock worth $8,884,000 after purchasing an additional 138,360 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Rogers Communications by 45.5% during the 4th quarter. Raymond James Trust N.A. now owns 13,482 shares of the Wireless communications provider’s stock worth $691,000 after purchasing an additional 4,213 shares during the last quarter. 44.50% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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