Rogers Communication, Inc. (NYSE:RCI) Receives Average Rating of “Hold” from Analysts

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have received a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $36.00.

A number of research analysts have commented on the company. TD Cowen restated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Scotiabank upgraded Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. Barclays restated a “positive” rating and set a $37.00 price target on shares of Rogers Communication in a research note on Tuesday, January 27th. Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Finally, TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd.

Rogers Communication Trading Down 0.6%

Shares of Rogers Communication stock opened at $36.33 on Wednesday. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 3.83, a PEG ratio of 3.21 and a beta of 0.61. Rogers Communication has a fifty-two week low of $24.80 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. The stock has a 50 day moving average of $36.94 and a 200 day moving average of $37.42.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, research analysts predict that Rogers Communication will post 3.55 earnings per share for the current year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, June 9th. Rogers Communication’s dividend payout ratio (DPR) is presently 15.51%.

Institutional Trading of Rogers Communication

Several hedge funds have recently modified their holdings of RCI. Fiera Capital Corp raised its stake in shares of Rogers Communication by 8,881.3% in the fourth quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after acquiring an additional 7,116,744 shares in the last quarter. Morgan Stanley raised its stake in shares of Rogers Communication by 138.0% in the fourth quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock valued at $191,681,000 after acquiring an additional 2,945,885 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Rogers Communication by 67.8% in the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after acquiring an additional 1,966,476 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Rogers Communication by 261.2% in the third quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after acquiring an additional 1,520,062 shares in the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new stake in shares of Rogers Communication in the third quarter valued at $47,082,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.