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

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have received a consensus rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $61.75.

A number of research analysts have commented on RCI shares. BMO Capital Markets raised their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. TD Securities boosted their price target on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating for the company.

Rogers Communications Stock Performance

Shares of NYSE RCI opened at $30.49 on Friday. The firm has a market capitalization of $16.30 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.06 and a beta of 0.67. Rogers Communications has a one year low of $30.19 and a one year high of $48.19. The business has a fifty day simple moving average of $35.67 and a 200 day simple moving average of $37.72. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The business’s revenue was up .7% on a year-over-year basis. Sell-side analysts expect that Rogers Communications will post 3.56 EPS 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 given a $0.3611 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.74%. Rogers Communications’s payout ratio is 71.71%.

Institutional Trading of Rogers Communications

Several large investors have recently made changes to their positions in RCI. Cromwell Holdings LLC acquired a new position in Rogers Communications during the 3rd quarter worth about $31,000. Ridgewood Investments LLC acquired a new stake in shares of Rogers Communications in the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. raised its position in Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust raised its position in Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after purchasing an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Rogers Communications during the 2nd quarter worth $55,000. Institutional investors own 45.49% of the company’s stock.

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.