Rogers Communications Inc. (NYSE:RCI) Given Average Recommendation of “Buy” by Analysts

Shares of Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $72.00.

RCI has been the subject of a number of analyst reports. CIBC upgraded shares of Rogers Communications from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 25th. Canaccord Genuity Group raised their price target on shares of Rogers Communications from C$65.00 to C$69.00 and gave the company a “hold” rating in a report on Thursday. Scotiabank upped their price target on shares of Rogers Communications from C$80.00 to C$87.00 in a report on Wednesday. TD Securities raised their price target on Rogers Communications from C$70.00 to C$75.00 in a report on Friday, January 28th. Finally, StockNews.com initiated coverage on Rogers Communications in a research report on Thursday, March 31st. They set a “hold” rating for the company.

Institutional investors and hedge funds have recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its position in Rogers Communications by 9.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 42,638 shares of the Wireless communications provider’s stock valued at $2,031,000 after purchasing an additional 3,510 shares during the last quarter. Monarch Capital Management Inc. lifted its stake in shares of Rogers Communications by 8.5% in the fourth quarter. Monarch Capital Management Inc. now owns 29,156 shares of the Wireless communications provider’s stock worth $1,389,000 after buying an additional 2,290 shares in the last quarter. NewEdge Wealth LLC purchased a new stake in shares of Rogers Communications during the fourth quarter valued at approximately $1,072,000. Signaturefd LLC increased its position in shares of Rogers Communications by 36.9% during the fourth quarter. Signaturefd LLC now owns 3,558 shares of the Wireless communications provider’s stock valued at $169,000 after acquiring an additional 959 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Rogers Communications by 55.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,450,744 shares of the Wireless communications provider’s stock worth $67,668,000 after acquiring an additional 517,741 shares during the last quarter. 42.50% of the stock is owned by hedge funds and other institutional investors.

Shares of Rogers Communications stock traded up $0.43 during trading hours on Monday, reaching $59.23. The company had a trading volume of 291,093 shares, compared to its average volume of 309,484. The firm has a market cap of $29.91 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.83 and a beta of 0.47. Rogers Communications has a one year low of $44.19 and a one year high of $59.55. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.68 and a quick ratio of 0.61. The business has a fifty day simple moving average of $54.24 and a 200 day simple moving average of $49.92.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 27th. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Rogers Communications had a return on equity of 17.45% and a net margin of 10.62%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, research analysts forecast that Rogers Communications will post 3.12 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Thursday, March 10th were issued a $0.396 dividend. This represents a $1.58 annualized dividend and a yield of 2.67%. The ex-dividend date was Wednesday, March 9th. Rogers Communications’s dividend payout ratio (DPR) is 65.29%.

About Rogers Communications (Get Rating)

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 and accessory financing, wireless home phone, device protection, text messaging, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 10.9 million subscribers.

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Analyst Recommendations for Rogers Communications (NYSE:RCI)

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