Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been given an average rating of “Buy” by the ten analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $70.83.
RCI has been the topic of several research reports. TD Securities lifted their target price on Rogers Communications from C$70.00 to C$75.00 in a report on Friday, January 28th. Desjardins raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a research note on Friday, January 28th. National Bank Financial raised their price target on Rogers Communications from C$69.00 to C$74.00 in a research note on Friday, January 28th. Royal Bank of Canada downgraded Rogers Communications from an “outperform” rating to a “sector perform” rating in a research report on Monday, October 25th. Finally, CIBC upgraded shares of Rogers Communications from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 25th.
NYSE RCI opened at $52.01 on Friday. The company has a market capitalization of $26.26 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.50. Rogers Communications has a 52-week low of $43.18 and a 52-week high of $53.90. The company has a 50-day simple moving average of $48.97 and a 200 day simple moving average of $48.39. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.61 and a current ratio of 0.68.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, January 27th. The Wireless communications provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. Rogers Communications had a net margin of 10.62% and a return on equity of 17.45%. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. Rogers Communications’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts forecast that Rogers Communications will post 3.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 1st. Investors of record on Thursday, March 10th will be issued a $0.396 dividend. The ex-dividend date is Wednesday, March 9th. This represents a $1.58 annualized dividend and a dividend yield of 3.05%. Rogers Communications’s payout ratio is currently 64.46%.
A number of hedge funds and other institutional investors have recently bought and sold shares of RCI. Marshall Wace LLP raised its holdings in shares of Rogers Communications by 1,146.5% in the 2nd quarter. Marshall Wace LLP now owns 115,697 shares of the Wireless communications provider’s stock valued at $6,157,000 after purchasing an additional 106,415 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Rogers Communications by 2.1% during the second quarter. 1832 Asset Management L.P. now owns 7,517,049 shares of the Wireless communications provider’s stock valued at $397,485,000 after buying an additional 152,904 shares during the period. Geode Capital Management LLC raised its stake in Rogers Communications by 12.0% in the second quarter. Geode Capital Management LLC now owns 874,678 shares of the Wireless communications provider’s stock worth $47,166,000 after buying an additional 93,792 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Rogers Communications during the second quarter worth $20,908,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Rogers Communications by 102.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 933,003 shares of the Wireless communications provider’s stock valued at $49,592,000 after acquiring an additional 472,300 shares in the last quarter. 42.28% of the stock is currently owned by institutional investors and hedge funds.
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 and accessory financing, wireless home phone, device protection, text messaging, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 10.9 million subscribers.
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