Rogers Communications Inc. (NYSE:RCI) Receives Average Recommendation of “Moderate Buy” from Analysts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $61.75.

Several equities research analysts recently commented on the stock. TD Securities upped their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets increased their target price on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th.

Rogers Communications Stock Performance

Shares of NYSE RCI opened at $35.86 on Wednesday. The stock’s fifty day simple moving average is $37.33 and its 200 day simple moving average is $38.36. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.11 and a beta of 0.67. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. Rogers Communications has a 52-week low of $34.95 and a 52-week high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the business posted $0.95 EPS. Rogers Communications’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that Rogers Communications will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $0.3611 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.03%. Rogers Communications’s payout ratio is 71.71%.

Hedge Funds Weigh In On Rogers Communications

Several institutional investors and hedge funds have recently modified their holdings of RCI. Cromwell Holdings LLC acquired a new stake in Rogers Communications during the third quarter valued at $31,000. Ridgewood Investments LLC acquired a new stake in shares of Rogers Communications during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 valued at $37,000 after buying an additional 522 shares in the last quarter. Grove Bank & Trust increased its holdings in Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after buying an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Rogers Communications during the second quarter valued at approximately $55,000. 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.