Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have earned an average recommendation of “Buy” from the eleven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $62.00.

Several analysts have issued reports on RCI shares. CIBC dropped their price target on Rogers Communications from $66.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. TD Securities dropped their price target on Rogers Communications from $76.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Veritas Investment Research upgraded Rogers Communications from a “sell” rating to a “buy” rating in a report on Thursday, July 23rd. Canaccord Genuity decreased their price objective on Rogers Communications from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Scotiabank decreased their price objective on Rogers Communications from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd.

Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in Rogers Communications by 81.2% during the second quarter. Parallel Advisors LLC now owns 792 shares of the Wireless communications provider’s stock valued at $31,000 after purchasing an additional 355 shares in the last quarter. Van ECK Associates Corp raised its position in Rogers Communications by 19.0% during the first quarter. Van ECK Associates Corp now owns 1,832 shares of the Wireless communications provider’s stock valued at $77,000 after purchasing an additional 292 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Rogers Communications by 1,600.5% during the second quarter. Rockefeller Capital Management L.P. now owns 3,452 shares of the Wireless communications provider’s stock valued at $139,000 after purchasing an additional 3,249 shares in the last quarter. Glenmede Trust Co. NA raised its position in Rogers Communications by 21.2% during the second quarter. Glenmede Trust Co. NA now owns 3,659 shares of the Wireless communications provider’s stock valued at $147,000 after purchasing an additional 640 shares in the last quarter. Finally, MML Investors Services LLC acquired a new position in Rogers Communications during the first quarter valued at approximately $200,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Shares of Rogers Communications stock opened at $40.85 on Friday. The company has a market capitalization of $20.63 billion, a PE ratio of 16.54, a PEG ratio of 4.41 and a beta of 0.48. Rogers Communications has a 12 month low of $32.20 and a 12 month high of $51.29. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.92. The stock’s fifty day simple moving average is $41.83 and its 200 day simple moving average is $41.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Rogers Communications had a return on equity of 18.57% and a net margin of 11.89%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.40 billion. Analysts predict that Rogers Communications will post 2.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Wednesday, September 9th will be given a $0.3717 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.64%. This is an increase from Rogers Communications’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, September 8th. Rogers Communications’s payout ratio is presently 48.88%.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Analyst Recommendations for Rogers Communications (NYSE:RCI)

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