Analysts Set Rogers Communications Inc. (NYSE:RCI) PT at $61.75

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been given an average rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat.com reports. One 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $61.75.

RCI has been the topic of a number of recent analyst reports. Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Morgan Stanley began coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company.

Institutional Trading of Rogers Communications

Large investors have recently bought and sold shares of the company. FIL Ltd boosted its stake in shares of Rogers Communications by 7.2% in the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock valued at $1,028,336,000 after purchasing an additional 2,244,240 shares during the period. Bank of Nova Scotia boosted its position in Rogers Communications by 20.6% in the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider’s stock valued at $237,784,000 after buying an additional 1,320,200 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Rogers Communications by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock valued at $206,565,000 after acquiring an additional 3,717,487 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after acquiring an additional 977,924 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. increased its position in shares of Rogers Communications by 23.5% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider’s stock worth $160,094,000 after acquiring an additional 992,780 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Shares of RCI opened at $28.09 on Friday. Rogers Communications has a 1 year low of $26.57 and a 1 year high of $44.27. The company’s 50 day simple moving average is $28.47 and its 200 day simple moving average is $34.01. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. On average, sell-side analysts predict that Rogers Communications will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be issued a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

About Rogers Communications

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.