The Canadian telecommunications giant posted a net profit of $ 294 million for the three months ended March 31, compared to $ 230 million for the same period a year ago. Can raised its stake in Rogers Communications by 1.7% in the third quarter. See Rogers Communications Inc. ("Rogers") announced today that its Board of Directors declared a quarterly dividend totaling 48 cents per share on each of its outstanding Class B Non-Voting shares and Class A Voting shares.
07/06/2016 - Rogers Communication, Inc. had its "buy" rating reiterated by analysts at TD Securities.
Toronto-based Rogers' net income rose to C$294 million ($220 million) or 57 Canadian cents per share for the first quarter ended March 31, from C$230 million or 44 Canadian cents per share, a year earlier. Sumitomo Mitsui Trust Holdings Inc. now owns 1,154,874 shares of the Wireless communications provider's stock worth $49,005,000 after buying an additional 9,152 shares during the period. The stock had a trading volume of 175,405 shares. Investors of record on Monday, June 12th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.15%. He noted as well that the Rogers share price has risen 25 per cent since the dividend growth pause took effect.
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Rogers stock is up more than 19 per cent this year and its near term momentum is expected to remain strong, Barclays analyst Phillip Huang wrote in a note to clients Wednesday. Desjardins lowered their price target on shares of Rogers Communications from C$61.00 to C$57.50 in a report on Wednesday, December 21st. The business had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.37 billion. Scotiabank upped their price objective on Rogers Communications from C$62.00 to C$63.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 12th. The average stock price target is $40.39 with 0 brokers rating the stock a strong buy, 6 brokers rating the stock a buy, 5 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell. Rogers Communications has an average rating of "Hold" and a consensus target price of $54.43. The Firm provides wireless communications services, and cable television, Internet, information technology and telephony services to clients and businesses.
"Rogers consistently has had one of the highest churn rates amongst the Big Three", Mr. Casey said, referring to competitors Telus and BCE Inc. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.