Brokerages Set Rogers Communications Inc. (NYSE:RCI) Price Target at $51.50

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have received a consensus rating of “Moderate Buy” from the four ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $51.50.

RCI has been the subject of several analyst reports. StockNews.com upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th.

Institutional Trading of Rogers Communications

A number of institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new stake in Rogers Communications during the 1st quarter valued at $835,000. Barometer Capital Management Inc. purchased a new stake in shares of Rogers Communications during the fourth quarter worth about $1,092,000. Janney Montgomery Scott LLC acquired a new position in shares of Rogers Communications in the fourth quarter worth about $1,719,000. CIBC Asset Management Inc boosted its holdings in Rogers Communications by 19.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,532,864 shares of the Wireless communications provider’s stock valued at $71,988,000 after purchasing an additional 247,496 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Rogers Communications by 8.6% during the 1st quarter. Russell Investments Group Ltd. now owns 195,754 shares of the Wireless communications provider’s stock valued at $8,040,000 after purchasing an additional 15,454 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

NYSE RCI opened at $40.81 on Friday. Rogers Communications has a fifty-two week low of $35.55 and a fifty-two week high of $48.19. The stock has a market cap of $21.63 billion, a price-to-earnings ratio of 51.01, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. The business has a fifty day moving average of $39.29 and a 200-day moving average of $39.40. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts predict that Rogers Communications will post 3.59 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be given a dividend of $0.365 per share. The ex-dividend date is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.58%. Rogers Communications’s dividend payout ratio (DPR) is 185.00%.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.