Brokerages Set Rogers Communication, Inc. (NYSE:RCI) Price Target at $36.00

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been given an average rating of “Hold” by the ten research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $36.00.

A number of analysts recently issued reports on RCI shares. Desjardins lowered Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Barclays reiterated a “positive” rating and set a $37.00 price target on shares of Rogers Communication in a research report on Tuesday, January 27th. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th.

Rogers Communication Stock Performance

Shares of RCI stock opened at $38.37 on Friday. The firm’s 50 day moving average is $37.14 and its 200 day moving average is $36.81. The stock has a market capitalization of $20.73 billion, a P/E ratio of 4.15, a PEG ratio of 5.08 and a beta of 0.74. Rogers Communication has a 12 month low of $23.18 and a 12 month high of $40.26. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Rogers Communication will post 3.57 earnings per share for the current year.

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, March 10th. Rogers Communication’s dividend payout ratio (DPR) is 15.46%.

Hedge Funds Weigh In On Rogers Communication

A number of institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC bought a new stake in shares of Rogers Communication during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC raised its stake in Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 407 shares in the last quarter. Headlands Technologies LLC lifted its position in Rogers Communication by 143.2% during the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock valued at $49,000 after purchasing an additional 978 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Rogers Communication during the third quarter valued at approximately $58,000. Finally, Advisory Services Network LLC purchased a new position in Rogers Communication in the 3rd quarter worth approximately $63,000. 45.49% of the stock is currently owned by institutional investors.

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.