Rogers Increases 2017 Guidance For Adj. Operating Profit Growth

Rogers Increases 2017 Guidance For Adj. Operating Profit Growth

(NASDAQ:RCI) to report earnings on Oct, 19 for the fiscal quarter ending Sep 2017. On average, analysts predict that Rogers Communication will post $2.74 EPS for the current year.

Other equities research analysts have also issued research reports about the stock. 140,175 shares of the stock were exchanged. Zacks Investment Research cut shares of Rogers Communication from a "buy" rating to a "hold" rating in a research note on Friday, September 22nd. Finally, BidaskClub raised shares of Rogers Communication from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company now has an average rating of "Buy" and an average price target of $61.75.

TD Securities upgraded shares of Rogers Communication Inc. If you are viewing this story on another site, it was illegally copied and reposted in violation of worldwide copyright laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/19/rogers-communication-inc-declares-quarterly-dividend-of-0-48-rci.html.

Rogers Communication (NYSE:RCI) opened at 53.75 on Thursday. The firm has a 50-day moving average of $52.29 and a 200-day moving average of $49.02. Beutel Goodman & Co Ltd. increased its stake in Rogers Communication by 4.8% in the second quarter. Rogers Communication had a net margin of 7.42% and a return on equity of 28.90%. Revenue for the quarter was $3.58 billion, led by wireless, which took in $2.1 billion.

Rogers Communications Inc. continues to win wireless customers at a quick pace, adding the most contract subscribers in eight years in the third quarter, and says it plans to put some of the associated profit growth to work by spending more to improve network quality.

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Rogers Communication by 11.8% in the first quarter.

Rogers now has 8,839,000 postpaid subscribers and 1,786,000 prepaid subscribers, for a total of 10,625,000 wireless subscribers. TD Asset Management Inc. now owns 14,968,919 shares of the company's stock worth $633,893,000 after buying an additional 232,775 shares during the last quarter. AXA boosted its stake in Rogers Communication by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,954,480 shares of the company's stock worth $280,960,000 after buying an additional 747,064 shares during the last quarter. Investors of record on Monday, December 12th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 5.12%. Rogers Communication's payout ratio is 104.05%.

Rogers has reported their third quarter earnings and the company has revealed $467 million CAD in profit, led by growth in its wireless division. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses.

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