Rogers Communication, Inc. (NYSE:RCI) Stock Has Consensus Target Price of $35.00

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $35.00.

A number of brokerages have recently weighed in on RCI. Raymond James Financial began coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They set an “outperform” rating on the stock. Desjardins raised Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, October 20th. Wall Street Zen upgraded Rogers Communication from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Weiss Ratings raised Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday.

Hedge Funds Weigh In On Rogers Communication

Institutional investors and hedge funds have recently made changes to their positions in the business. Cidel Asset Management Inc. increased its position in shares of Rogers Communication by 5.2% during the third quarter. Cidel Asset Management Inc. now owns 17,558 shares of the Wireless communications provider’s stock valued at $542,000 after acquiring an additional 865 shares in the last quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd raised its holdings in Rogers Communication by 20.6% in the 3rd quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 89,370 shares of the Wireless communications provider’s stock worth $2,753,000 after acquiring an additional 15,253 shares during the last quarter. D.A. Davidson & CO. purchased a new position in Rogers Communication in the 3rd quarter worth approximately $202,000. Lorne Steinberg Wealth Management Inc. boosted its stake in Rogers Communication by 3.0% during the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 178,014 shares of the Wireless communications provider’s stock valued at $5,481,000 after purchasing an additional 5,106 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Rogers Communication during the 3rd quarter valued at $323,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Performance

Rogers Communication stock opened at $32.55 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.51 and a debt-to-equity ratio of 1.65. The firm has a market cap of $17.58 billion, a P/E ratio of 8.82, a P/E/G ratio of 3.60 and a beta of 0.65. Rogers Communication has a 1-year low of $29.25 and a 1-year high of $41.14. The firm has a 50-day moving average of $33.55 and a 200-day moving average of $35.67.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly 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 return on equity of 11.51% and a net margin of 4.11%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business earned $1.37 EPS. Rogers Communication’s revenue was up 1.8% compared to the same quarter last year. Sell-side analysts expect that Rogers Communication will post 3.57 EPS for the current year.

Rogers Communication Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 8th will be given a dividend of C$0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, December 8th. Rogers Communication’s dividend payout ratio (DPR) is 120.00%.

About Rogers Communication

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.