New Rogers CEO Joe Natale plans to 'obsess' over customer service

Paterniano Del Favero
Aprile 21, 2017

Rogers Communications Inc. has a 1-year low of $37.03 and a 1-year high of $47.42. The stock had a trading volume of 175,405 shares. The firm has a 50-day moving average price of $43.27 and a 200 day moving average price of $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.

Rogers Communications (NYSE:RCI) last posted its quarterly earnings results on Tuesday, April 18th. Total service unit additions were positive for a third quarter, at 8,000, driven by internet net additions of 30,000, up from 16,000 a year ago.

The company has offered no timeline for resumption of dividend growth, despite a better-than-forecast first-quarter earnings report Tuesday that showed an improved adjusted net debt to adjusted operating profit ratio that remains just shy of the company's target. This represents a $1.92 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Thursday, June 8th.

On top of operational decisions, investors will be waiting for Rogers under Mr. Natale to resume dividend growth.

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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.

Scotiabank reissued their outperform rating on shares of Rogers Communications Inc.

Following an update released by analysts at Canaccord Genuity on Monday the broker has now set a "Buy" rating on shares of Rogers Communications (NYSE:RCI) with a price target of 60. Finally, CIBC downgraded Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Royal Bank of Canada downgraded shares of Rogers Communications from an outperform rating to a sector perform rating and lowered their price target for the company from C$56.00 to C$55.00 in a report on Monday, January 9th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of C$60.81.

The new chief executive of Rogers Communications Inc. says the company "definitely" has more work to when it comes to customer service, which will be a focus for him.

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