Rogers Communication, Inc. (NYSE:RCI) Receives $72.00 Average PT from Brokerages

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $72.00.

RCI has been the topic of a number of research reports. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research note on Tuesday, July 15th. BMO Capital Markets restated an “outperform” rating on shares of Rogers Communication in a research report on Wednesday, July 2nd.

Rogers Communication Stock Down 1.8%

Shares of RCI stock opened at $33.05 on Monday. The company’s fifty day simple moving average is $30.63 and its two-hundred day simple moving average is $28.09. Rogers Communication has a 52 week low of $23.18 and a 52 week high of $41.84. The stock has a market cap of $17.78 billion, a P/E ratio of 16.44, a PEG ratio of 1.82 and a beta of 0.77. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. Analysts predict that Rogers Communication will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be paid a $0.3672 dividend. This represents a $1.47 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.36. Rogers Communication’s dividend payout ratio is 72.64%.

Hedge Funds Weigh In On Rogers Communication

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its holdings in Rogers Communication by 885.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider’s stock valued at $25,000 after buying an additional 850 shares during the period. Versant Capital Management Inc bought a new position in Rogers Communication during the first quarter valued at $79,000. Parallel Advisors LLC increased its position in Rogers Communication by 176.9% during the second quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider’s stock valued at $86,000 after acquiring an additional 1,847 shares during the last quarter. CWM LLC raised its stake in shares of Rogers Communication by 57.4% in the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock valued at $100,000 after acquiring an additional 1,363 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Rogers Communication by 48.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider’s stock worth $113,000 after acquiring an additional 1,389 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Company Profile

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.