Rogers Communication (NYSE:RCI) Stock Crosses Above 50 Day Moving Average – What’s Next?

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B)’s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $33.49 and traded as high as $33.59. Rogers Communication shares last traded at $33.55, with a volume of 1,191,668 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RCI shares. TD Securities reissued a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Barclays lowered their target price on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings raised shares of Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 26th. Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Monday, September 14th. Finally, Wall Street Zen upgraded shares of Rogers Communication from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Rogers Communication Trading Up 2.9%

The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.51 and a current ratio of 0.67. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 3.58 and a beta of 0.65. The business has a fifty day simple moving average of $33.49 and a 200 day simple moving average of $35.66.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Friday, October 23rd. The Wireless communications provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. Rogers Communication had a net margin of 4.11% and a return on equity of 11.51%. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business posted $1.37 earnings per share. Rogers Communication’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 8th will be paid a C$0.50 dividend. The ex-dividend date is Tuesday, December 8th. This represents a $2.00 annualized dividend and a yield of 6.0%. Rogers Communication’s payout ratio is 120.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Nova Scotia raised its position in shares of Rogers Communication by 7.6% in the first quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock valued at $241,467,000 after buying an additional 445,964 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Rogers Communication by 7.1% in the third quarter. TD Waterhouse Canada Inc. now owns 5,037,804 shares of the Wireless communications provider’s stock valued at $155,491,000 after buying an additional 332,725 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Rogers Communication by 98.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock valued at $77,871,000 after buying an additional 1,004,963 shares during the period. Gabelli Funds LLC grew its position in Rogers Communication by 10.5% during the first quarter. Gabelli Funds LLC now owns 1,495,950 shares of the Wireless communications provider’s stock worth $57,519,000 after buying an additional 142,650 shares in the last quarter. Finally, Swiss National Bank grew its position in Rogers Communication by 27.0% during the first quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock worth $47,146,000 after buying an additional 261,000 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.