Brokerages Set Rogers Communication, Inc. (NYSE:RCI) Price Target at $67.00

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $67.00.

Several research firms recently commented on RCI. Canaccord Genuity Group raised Rogers Communication from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Scotiabank lowered Rogers Communication from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st.

Hedge Funds Weigh In On Rogers Communication

A number of hedge funds have recently modified their holdings of RCI. V Square Quantitative Management LLC raised its stake in shares of Rogers Communication by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock valued at $178,000 after acquiring an additional 930 shares during the period. Lorne Steinberg Wealth Management Inc. increased its holdings in Rogers Communication by 10.8% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 101,011 shares of the Wireless communications provider’s stock valued at $3,102,000 after purchasing an additional 9,876 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its position in Rogers Communication by 30.1% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 317,971 shares of the Wireless communications provider’s stock valued at $9,693,000 after purchasing an additional 73,618 shares during the period. A&I Financial Services LLC purchased a new stake in Rogers Communication in the fourth quarter valued at approximately $363,000. Finally, Jones Financial Companies Lllp lifted its stake in Rogers Communication by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock worth $55,000 after purchasing an additional 1,052 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Stock Up 0.7%

Shares of RCI stock opened at $27.60 on Friday. The stock’s fifty day moving average price is $26.06 and its 200 day moving average price is $27.89. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.00 and a quick ratio of 0.94. Rogers Communication has a 1-year low of $23.18 and a 1-year high of $41.84. The company has a market cap of $14.79 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). Rogers Communication had a net margin of 8.53% and a return on equity of 25.28%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period last year, the firm earned $0.99 earnings per share. Rogers Communication’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts expect that Rogers Communication will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be given a dividend of $0.3611 per share. This is a boost from Rogers Communication’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 annualized dividend and a dividend yield of 5.23%. Rogers Communication’s payout ratio is presently 62.66%.

About Rogers Communication

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.