Rogers Communications Inc. (NYSE:RCI) Receives Consensus Rating of “Hold” from Analysts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $61.75.

A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Morgan Stanley initiated coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company. Finally, TD Securities boosted their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

Rogers Communications Trading Down 0.9 %

Shares of Rogers Communications stock opened at $30.36 on Friday. Rogers Communications has a fifty-two week low of $30.06 and a fifty-two week high of $48.19. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.06 and a beta of 0.67. The stock has a 50 day moving average of $35.03 and a 200 day moving average of $37.51.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released 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. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. As a group, research analysts predict that Rogers Communications will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $0.3611 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s payout ratio is 71.71%.

Institutional Investors Weigh In On Rogers Communications

Large investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. grew its stake in shares of Rogers Communications by 2.6% in the second quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock worth $425,341,000 after acquiring an additional 288,614 shares in the last quarter. Mackenzie Financial Corp grew its stake in Rogers Communications by 10.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after purchasing an additional 974,937 shares in the last quarter. Toronto Dominion Bank grew its stake in Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after purchasing an additional 2,206,690 shares in the last quarter. National Bank of Canada FI increased its holdings in Rogers Communications by 18.6% during the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after purchasing an additional 3,980,525 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

About Rogers Communications

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.