Rogers Communications Inc. (NYSE:RCI) Given Consensus Rating of “Moderate Buy” by Brokerages

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $51.50.

A number of analysts have commented on the company. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. Finally, Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th.

Institutional Investors Weigh In On Rogers Communications

A number of large investors have recently made changes to their positions in the company. Brandes Investment Partners LP boosted its holdings in shares of Rogers Communications by 45.1% in the second quarter. Brandes Investment Partners LP now owns 37,273 shares of the Wireless communications provider’s stock worth $1,378,000 after buying an additional 11,591 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 522 shares during the period. Creative Planning lifted its position in Rogers Communications by 50.8% during the second quarter. Creative Planning now owns 21,796 shares of the Wireless communications provider’s stock valued at $806,000 after purchasing an additional 7,338 shares in the last quarter. Lighthouse Investment Partners LLC increased its position in Rogers Communications by 226.9% in the second quarter. Lighthouse Investment Partners LLC now owns 15,970 shares of the Wireless communications provider’s stock worth $590,000 after buying an additional 11,084 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Rogers Communications by 10.2% in the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after buying an additional 974,937 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Performance

Shares of Rogers Communications stock opened at $40.82 on Monday. Rogers Communications has a 1 year low of $35.55 and a 1 year high of $48.19. The firm’s 50-day moving average is $38.09 and its 200 day moving average is $40.04. The stock has a market cap of $21.64 billion, a price-to-earnings ratio of 51.03, a PEG ratio of 1.00 and a beta of 0.68. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.33. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate that Rogers Communications will post 3.58 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 9th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s payout ratio is currently 180.00%.

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.