Rogers Communication, Inc. (NYSE:RCI) Receives $36.00 Average PT from Brokerages

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has been assigned a consensus rating of “Hold” from the nine research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $36.00.

RCI has been the topic of a number of research analyst reports. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Raymond James Financial assumed coverage on Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Wall Street Zen cut shares of Rogers Communication from a “hold” rating to a “sell” rating in a research note on Saturday. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Finally, Weiss Ratings cut shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday.

Rogers Communication Trading Up 0.1%

Shares of Rogers Communication stock opened at $32.76 on Monday. The firm has a market capitalization of $17.70 billion, a PE ratio of 3.96, a P/E/G ratio of 4.08 and a beta of 0.64. Rogers Communication has a twelve month low of $31.38 and a twelve month high of $41.14. The firm’s 50-day moving average price is $35.59 and its 200 day moving average price is $36.56. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the firm posted $1.14 EPS. Rogers Communication’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Rogers Communication will post 3.27 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 6.1%. Rogers Communication’s payout ratio is presently 17.51%.

Institutional Trading of Rogers Communication

A number of hedge funds have recently bought and sold shares of RCI. TD Waterhouse Canada Inc. boosted its stake in Rogers Communication by 1.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,446,406 shares of the Wireless communications provider’s stock worth $92,242,000 after buying an additional 32,872 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Rogers Communication by 4.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider’s stock worth $38,117,000 after acquiring an additional 39,638 shares during the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of Rogers Communication by 66.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 90,206 shares of the Wireless communications provider’s stock worth $3,406,000 after acquiring an additional 36,114 shares during the last quarter. Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Rogers Communication by 23.8% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 160,009 shares of the Wireless communications provider’s stock worth $6,048,000 after acquiring an additional 30,802 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Rogers Communication during the 4th quarter worth $6,397,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

About Rogers Communication

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.