Rogers Increases 2017 Guidance For Adj. Operating Profit Growth

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Rogers Increases 2017 Guidance For Adj. Operating Profit Growth

Research analysts at Desjardins decreased their Q3 2017 earnings per share estimates for Rogers Communication in a research report issued on Tuesday. The institutional investor owned 1,374,468 shares of the Wireless communications provider's stock after selling 2,551,203 shares during the period.

Shares of Rogers Communication (NYSE RCI) traded down 0.93% during midday trading on Thursday, hitting $53.25. RBC Capital Markets restated an outperform rating on shares of Rogers Communication in a research report on Tuesday, October 18th. Morgan Stanley increased their price objective on shares of Rogers Communication from $63.00 to $67.00 and gave the stock an "equal weight" rating in a report on Friday, August 25th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock.

Rogers Communications (NYSE:RCI) is off 1.7% in USA trading after posting Q3 earnings where adjusted profits exceeded expectations, but revenue grew more slowly than the Street hoped. The company has a 50 day moving average of $40.75 and a 200 day moving average of $41.00. Rogers Communication has a 1-year low of $37.03 and a 1-year high of $53.98. Stockholders of record on Monday, December 11th will be paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 14th. Rogers Communication's dividend payout ratio is presently 104.05%.

A number of hedge funds have recently bought and sold shares of RCI. AHL Partners LLP raised its stake in shares of Rogers Communication by 4.7% during the second quarter. Beutel Goodman & Co Ltd. now owns 23,399,933 shares of the company's stock worth $940,746,000 after buying an additional 1,077,355 shares during the last quarter. 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. Gotham Asset Management LLC raised its stake in shares of Rogers Communication by 66.7% during the second quarter.

Rogers now has 8,839,000 postpaid subscribers and 1,786,000 prepaid subscribers, for a total of 10,625,000 wireless subscribers. Finally, Vanguard Group Inc. increased its stake in Rogers Communication by 12.0% in the second quarter. CA now owns 31,845 shares of the Wireless communications provider's stock worth $1,503,000 after acquiring an additional 565 shares during the last quarter. The company plans to introduce an improved TV product next year and has been heavily promoting its internet product in the meantime in a bid to win residential customers away from its main rival BCE Inc., which is investing in upgraded fibre-optic networks to increase its own speeds.

The company added 27,000 landline internet and 1,000 landline phone accounts, but lost 18,000 television subscribers. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Our team delivered on all key operating and financial metrics in our largest segment, Wireless.

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