Rogers Communication, Inc. (NYSE:RCI) Receives $33.00 Consensus PT from Analysts

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have received a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $33.00.

RCI has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Rogers Communication in a research report on Wednesday, October 8th. Barclays lifted their price target on Rogers Communication from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. BMO Capital Markets reissued an “outperform” rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a research note on Monday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. increased its stake in shares of Rogers Communication by 885.4% during the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 850 shares during the period. Headlands Technologies LLC increased its position in shares of Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock valued at $49,000 after purchasing an additional 978 shares during the period. MAI Capital Management raised its stake in shares of Rogers Communication by 30.5% in the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock worth $58,000 after buying an additional 458 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after buying an additional 683 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Rogers Communication by 176.9% in the second quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider’s stock valued at $86,000 after buying an additional 1,847 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Stock Down 1.7%

NYSE:RCI opened at $36.61 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. The stock has a 50 day moving average of $35.62 and a 200-day moving average of $30.96. The firm has a market capitalization of $19.78 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78. Rogers Communication has a 52 week low of $23.18 and a 52 week high of $39.33.

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

Rogers Communication Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 8th were given a $0.3672 dividend. The ex-dividend date was Monday, September 8th. This represents a $1.47 dividend on an annualized basis and a yield of 4.0%. This is a boost from Rogers Communication’s previous quarterly dividend of $0.36. Rogers Communication’s payout ratio is currently 72.64%.

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.