Rogers Communications (NYSE:RCI) Price Target Increased to $74.00 by Analysts at TD Securities

Rogers Communications (NYSE:RCI) (TSE:RCI.B) had its price objective boosted by TD Securities from $73.00 to $74.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the Wireless communications provider’s stock.

A number of other equities research analysts have also recently commented on RCI. Canaccord Genuity Group cut Rogers Communications from a buy rating to a hold rating in a research note on Thursday, July 25th. StockNews.com raised shares of Rogers Communications from a sell rating to a hold rating in a research report on Thursday, July 11th. Canaccord Genuity Group reissued a hold rating and set a $57.00 target price (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Finally, BMO Capital Markets raised their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an outperform rating in a report on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Rogers Communications currently has a consensus rating of Moderate Buy and an average price target of $61.75.

Rogers Communications Stock Up 1.3 %

Shares of Rogers Communications stock opened at $40.36 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58. The company has a market cap of $21.39 billion, a P/E ratio of 50.45, a PEG ratio of 1.06 and a beta of 0.67. The firm’s 50 day moving average price is $39.47 and its 200-day moving average price is $39.32. Rogers Communications has a 52-week low of $35.55 and a 52-week high of $48.19.

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

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th will be paid a $0.365 dividend. The ex-dividend date is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.62%. Rogers Communications’s payout ratio is 185.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RCI. Dimensional Fund Advisors LP boosted its position in Rogers Communications by 7.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 567,126 shares of the Wireless communications provider’s stock worth $26,547,000 after purchasing an additional 37,026 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Rogers Communications by 17.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,962 shares of the Wireless communications provider’s stock worth $326,000 after purchasing an additional 1,056 shares during the period. Janney Montgomery Scott LLC purchased a new position in Rogers Communications during the fourth quarter worth approximately $1,719,000. Clearbridge Investments LLC acquired a new stake in Rogers Communications in the fourth quarter valued at approximately $846,000. Finally, Assetmark Inc. increased its position in shares of Rogers Communications by 1.8% in the fourth quarter. Assetmark Inc. now owns 18,891 shares of the Wireless communications provider’s stock valued at $884,000 after buying an additional 331 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

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.