Wireless growth boosts profit, revenue for Canada's Rogers Communications

Wireless growth boosts profit, revenue for Canada's Rogers Communications

US Bancorp DE now owns 3,379 shares of the Wireless communications provider's stock valued at $144,000 after buying an additional 167 shares in the last quarter. Wellington Mngmt Gru Limited Liability Partnership stated it has 0% in Rogers Communications Inc. Rivernorth Capital Management Llc owns 2.03 million shares or 1.56% of their USA portfolio.

About 147,105 shares traded.

The stock's 50 day moving average is 43.27 and its 200 day moving average is 41.05.

Rogers Communications has 514,808,000 shares now held by shareholders which now trade around the 46.01 mark which totals Rogers Communications's market capitalisation to 23.69B Dollars.

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Rogers Communications (NYSE:RCI) last posted its earnings results on Tuesday, April 18th. The firm earned $3.34 billion during the quarter, compared to the consensus estimate of $3.37 billion. Rogers has used attractive Internet plans and speeds to help slow down the rate of cable losses in recent years - in 2016 it lost a total of 76,000 cable customers, 52,000 less than the previous year. Postpaid churn declined 7 basis points year on year to 1.10% in the first quarter, lowest first quarter postpaid churn rate since 2010. Equities research analysts predict that Rogers Communications Inc. will post $2.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 4th. This indicates a $1.92 annualized dividend and a dividend yield of 4.18%. He noted as well that the Rogers share price has risen 25 per cent since the dividend growth pause took effect. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & global copyright legislation. If you are reading this report on another site, it was copied illegally and republished in violation of United States & global copyright and trademark law. The legal version of this piece of content can be accessed at [[permalink]]. This was higher than the 57 cents per share expected by analysts, according to forecasts collected by Thomson Reuters. Zacks Investment Research raised Rogers Communications from a "sell" rating to a "hold" rating in a research note on Thursday. National Bank Financial upped their target price on shares of Rogers Communications from C$60.00 to C$62.00 and gave the company an outperform rating in a report on Friday, January 27th. Finally, CIBC downgraded Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Wednesday, April 5th. They now have a United States dollars 55 price target on the stock.

After being asked about the issue by shareholder and retired Rogers's employee Karen James during a question and answer session at the meeting, interim CEO Alan Horn said the company is focused on assuring a "rock solid" balance sheet.

Revenue at the Toronto-based company was $3.338 billion, up from $3.245 billion.

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