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

Shares of Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) have earned an average rating of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $77.60.

RCI has been the topic of several recent research reports. Royal Bank of Canada increased their target price on Rogers Communications from C$75.00 to C$77.00 in a research report on Thursday, April 21st. Desjardins upped their price target on shares of Rogers Communications from C$72.00 to C$83.00 in a report on Friday, April 22nd. Scotiabank upped their price target on shares of Rogers Communications from C$87.00 to C$89.00 in a report on Thursday, April 21st. Canaccord Genuity Group upped their price target on shares of Rogers Communications from C$65.00 to C$69.00 and gave the stock a “hold” rating in a report on Thursday, April 14th. Finally, TD Securities upped their price target on shares of Rogers Communications from C$75.00 to C$87.00 in a report on Thursday, April 21st.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCI. Stonehage Fleming Financial Services Holdings Ltd increased its stake in Rogers Communications by 53.7% in the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 764 shares of the Wireless communications provider’s stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Rogers Communications during the fourth quarter valued at about $49,000. Spire Wealth Management grew its stake in shares of Rogers Communications by 89.6% during the fourth quarter. Spire Wealth Management now owns 1,426 shares of the Wireless communications provider’s stock valued at $68,000 after buying an additional 674 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Rogers Communications by 25.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,544 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 514 shares during the last quarter. Finally, Signaturefd LLC grew its stake 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 buying an additional 959 shares during the last quarter. 41.73% of the stock is currently owned by institutional investors and hedge funds.

NYSE:RCI opened at $53.01 on Friday. The company has a market cap of $26.77 billion, a P/E ratio of 21.38, a P/E/G ratio of 2.87 and a beta of 0.47. The stock’s fifty day moving average price is $55.49 and its two-hundred day moving average price is $50.81. Rogers Communications has a 1 year low of $44.19 and a 1 year high of $64.55. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.39 and a quick ratio of 2.32.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last posted its earnings results on Wednesday, April 20th. The Wireless communications provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.09. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.63 billion. Rogers Communications had a return on equity of 17.67% and a net margin of 10.73%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 earnings per share. On average, analysts expect that Rogers Communications will post 3.07 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 4th. Investors of record on Friday, June 10th will be paid a $0.396 dividend. The ex-dividend date is Thursday, June 9th. This represents a $1.58 dividend on an annualized basis and a yield of 2.99%. Rogers Communications’s dividend payout ratio is presently 63.71%.

Rogers Communications Company Profile (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, 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 11.3 million subscribers.

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