Rogers Communications Inc. (NYSE:RCI) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $61.75.

RCI has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 target price (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. TD Securities raised their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets upped their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th.

Hedge Funds Weigh In On Rogers Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank increased its stake in shares of Rogers Communications by 53.9% in the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after acquiring an additional 2,206,690 shares during the last quarter. Intech Investment Management LLC acquired a new position in Rogers Communications in the 1st quarter valued at about $835,000. Barometer Capital Management Inc. purchased a new stake in shares of Rogers Communications in the 4th quarter valued at approximately $1,092,000. Russell Investments Group Ltd. increased its holdings in shares of Rogers Communications by 8.6% during the 1st quarter. Russell Investments Group Ltd. now owns 195,754 shares of the Wireless communications provider’s stock worth $8,040,000 after buying an additional 15,454 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Rogers Communications by 42.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 444,990 shares of the Wireless communications provider’s stock valued at $18,262,000 after buying an additional 133,652 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

Rogers Communications stock opened at $38.11 on Tuesday. Rogers Communications has a fifty-two week low of $35.55 and a fifty-two week high of $48.19. The company has a market capitalization of $20.20 billion, a PE ratio of 47.64, a P/E/G ratio of 1.06 and a beta of 0.67. The company has a 50 day moving average price of $39.92 and a 200-day moving average price of $38.98. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.33. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. As a group, equities analysts forecast that Rogers Communications will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th were given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Monday, September 9th. Rogers Communications’s dividend payout ratio is presently 185.00%.

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.