Rogers Communication, Inc. (NYSE:RCI) Receives $36.00 Average Price Target from Analysts

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has earned an average rating of “Hold” from the nine research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $36.00.

Several brokerages have recently issued reports on RCI. Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. TD Securities downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd.

Institutional Investors Weigh In On Rogers Communication

Several hedge funds have recently made changes to their positions in RCI. Invesco Ltd. lifted its stake in shares of Rogers Communication by 52.3% in the second quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider’s stock valued at $27,724,000 after buying an additional 321,124 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after buying an additional 683 shares during the period. Marshall Wace LLP lifted its stake in shares of Rogers Communication by 36.5% in the second quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider’s stock valued at $1,103,000 after buying an additional 9,951 shares during the period. Cerity Partners LLC lifted its stake in shares of Rogers Communication by 7.0% in the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock valued at $326,000 after buying an additional 724 shares during the period. Finally, AXA S.A. lifted its stake in shares of Rogers Communication by 231.1% in the second quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider’s stock valued at $1,481,000 after buying an additional 34,860 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Trading Up 0.6%

Shares of NYSE:RCI opened at $38.05 on Friday. The company has a market cap of $20.56 billion, a P/E ratio of 4.01, a P/E/G ratio of 3.32 and a beta of 0.62. The stock’s 50-day moving average is $36.08 and its 200-day moving average is $37.23. Rogers Communication has a 52-week low of $26.30 and a 52-week high of $41.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. Equities research analysts predict that Rogers Communication will post 3.55 earnings per share for the current year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio (DPR) is currently 15.51%.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.