Rogers Communications (NYSE:RCI) Price Target Cut to $52.00 by Analysts at Barclays

Rogers Communications (NYSE:RCIFree Report) (TSE:RCI.B) had its price objective reduced by Barclays from $55.00 to $52.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the Wireless communications provider’s stock.

Several other brokerages have also recently issued reports on RCI. Desjardins raised shares of Rogers Communications from a hold rating to a buy rating in a report on Friday, November 10th. StockNews.com upgraded shares of Rogers Communications from a sell rating to a hold rating in a research note on Monday, November 13th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $52.00.

Read Our Latest Analysis on Rogers Communications

Rogers Communications Stock Down 0.4 %

Shares of Rogers Communications stock opened at $45.46 on Monday. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.84 and a current ratio of 0.89. The stock has a market capitalization of $24.03 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 1.42 and a beta of 0.62. Rogers Communications has a 52-week low of $36.55 and a 52-week high of $50.00. The company has a 50-day simple moving average of $46.56 and a two-hundred day simple moving average of $42.58.

Rogers Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Monday, March 11th will be given a dividend of $0.3742 per share. This represents a $1.50 annualized dividend and a yield of 3.29%. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, March 8th. Rogers Communications’s payout ratio is 122.50%.

Institutional Trading of Rogers Communications

Several large investors have recently added to or reduced their stakes in RCI. Raymond James Financial Services Advisors Inc. bought a new stake in Rogers Communications during the first quarter valued at approximately $1,219,000. American Century Companies Inc. grew its position in Rogers Communications by 29.8% during the first quarter. American Century Companies Inc. now owns 28,915 shares of the Wireless communications provider’s stock valued at $1,637,000 after buying an additional 6,634 shares during the period. US Bancorp DE grew its position in Rogers Communications by 3.0% during the first quarter. US Bancorp DE now owns 7,289 shares of the Wireless communications provider’s stock valued at $413,000 after buying an additional 213 shares during the period. HighTower Advisors LLC bought a new stake in Rogers Communications during the first quarter valued at approximately $237,000. Finally, BlackRock Inc. boosted its position in shares of Rogers Communications by 16.1% in the first quarter. BlackRock Inc. now owns 3,281,771 shares of the Wireless communications provider’s stock worth $186,241,000 after purchasing an additional 455,522 shares during the period. 44.25% of the stock is currently owned by institutional investors.

Rogers Communications Company Profile

(Get Free Report)

Rogers Communications Inc operates as a communications and media company in North America. 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 services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.

Featured Articles

Receive News & Ratings for Rogers Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communications and related companies with MarketBeat.com's FREE daily email newsletter.