Rogers Communications Inc. (NYSE:RCI) Receives $61.75 Average Price Target from Analysts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $61.75.

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. TD Securities upped their price target on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

Institutional Trading of Rogers Communications

Several hedge funds have recently made changes to their positions in RCI. Franklin Resources Inc. raised its position in Rogers Communications by 25.7% in the third quarter. Franklin Resources Inc. now owns 10,900 shares of the Wireless communications provider’s stock valued at $423,000 after purchasing an additional 2,232 shares during the period. Tidal Investments LLC purchased a new stake in Rogers Communications in the 3rd quarter valued at about $248,000. Geode Capital Management LLC lifted its position in Rogers Communications by 10.6% in the third quarter. Geode Capital Management LLC now owns 1,633,981 shares of the Wireless communications provider’s stock valued at $66,176,000 after buying an additional 156,217 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Rogers Communications in the third quarter valued at about $2,559,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Rogers Communications during the third quarter worth about $206,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Up 0.7 %

Shares of RCI opened at $35.75 on Wednesday. The stock has a 50 day moving average price of $37.52 and a 200 day moving average price of $38.44. Rogers Communications has a one year low of $34.95 and a one year high of $48.19. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.10 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Equities research analysts forecast that Rogers Communications will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 72.20%.

Rogers Communications 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.