Rogers Communications Inc. (NYSE:RCI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been given an average rating of “Hold” by the seven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $61.75.

A number of research analysts have weighed in on RCI shares. BMO Capital Markets boosted their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Morgan Stanley started coverage on Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating for the company. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, TD Securities increased their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

Rogers Communications Trading Down 0.4 %

Shares of NYSE:RCI opened at $28.43 on Thursday. Rogers Communications has a 1 year low of $27.63 and a 1 year high of $48.19. The firm has a fifty day moving average price of $33.30 and a 200 day moving average price of $36.88. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $15.19 billion, a PE ratio of 13.87, a P/E/G ratio of 1.06 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Analysts expect that Rogers Communications will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, December 9th. Rogers Communications’s dividend payout ratio is 68.78%.

Institutional Trading of Rogers Communications

Institutional investors have recently made changes to their positions in the business. Cromwell Holdings LLC acquired a new position in Rogers Communications in the third quarter worth about $31,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 522 shares during the period. Grove Bank & Trust raised its holdings in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after buying an additional 302 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Rogers Communications during the 2nd quarter worth approximately $55,000. Finally, Nexus Investment Management ULC acquired a new stake in Rogers Communications in the 3rd quarter valued at $203,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.