Rogers Communications Inc. (RCI) Receives $49.50 Consensus Target Price from Analysts
Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $49.50.
Several research firms have recently weighed in on RCI. Royal Bank of Canada lowered Rogers Communications from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $56.00 to $55.00 in a research note on Monday, January 9th. Zacks Investment Research lowered Rogers Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, December 20th. Finally, Canaccord Genuity upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research note on Thursday, January 26th.
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Several hedge funds and other institutional investors have recently made changes to their positions in RCI. TD Asset Management Inc. increased its position in shares of Rogers Communications by 1.6% in the third quarter. TD Asset Management Inc. now owns 14,968,919 shares of the company’s stock valued at $633,893,000 after buying an additional 232,775 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Rogers Communications by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 5,027,149 shares of the company’s stock valued at $193,915,000 after buying an additional 34,012 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Rogers Communications by 12.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,945,080 shares of the company’s stock valued at $209,430,000 after buying an additional 542,061 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Rogers Communications by 1.7% in the third quarter. Great West Life Assurance Co. Can now owns 4,763,738 shares of the company’s stock valued at $202,353,000 after buying an additional 81,890 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Rogers Communications during the third quarter valued at approximately $141,935,000. 50.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rogers Communications (NYSE:RCI) opened at 41.92 on Tuesday. Rogers Communications has a 52 week low of $37.03 and a 52 week high of $45.50. The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 34.90 and a beta of 0.96. The firm’s 50-day moving average price is $42.73 and its 200 day moving average price is $40.82.
Rogers Communications (NYSE:RCI) last released its quarterly earnings data on Thursday, January 26th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.20. Rogers Communications had a return on equity of 25.46% and a net margin of 6.26%. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Rogers Communications will post $2.40 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Thursday, March 9th. Rogers Communications’s payout ratio is currently 116.26%.
About Rogers Communications
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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