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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $61.75.

A number of research analysts have issued reports on the company. TD Securities boosted their price target on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets lifted their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th.

Rogers Communications Trading Up 0.7 %

Shares of Rogers Communications stock opened at $35.75 on Wednesday. The stock has a market cap of $19.10 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The firm has a fifty day moving average price of $37.52 and a 200 day moving average price of $38.44. Rogers Communications has a 1 year low of $34.95 and a 1 year high of $48.19. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

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

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $0.3611 dividend. This represents a $1.44 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s payout ratio is currently 72.20%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after acquiring an additional 3,980,525 shares during the period. MQS Management LLC purchased a new position in Rogers Communications during the third quarter valued at $726,000. Toronto Dominion Bank grew its position in shares of Rogers Communications by 53.9% in the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after purchasing an additional 2,206,690 shares during the period. Intact Investment Management Inc. increased its stake in shares of Rogers Communications by 13.1% during the third quarter. Intact Investment Management Inc. now owns 2,255,441 shares of the Wireless communications provider’s stock worth $90,695,000 after purchasing an additional 261,220 shares in the last quarter. Finally, Canoe Financial LP raised its position in shares of Rogers Communications by 14.4% during the 3rd quarter. Canoe Financial LP now owns 1,133,087 shares of the Wireless communications provider’s stock worth $45,624,000 after purchasing an additional 142,224 shares during the last quarter. 45.49% of the stock is 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 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.