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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has received an average recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $61.75.

Several equities analysts recently weighed in on the company. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Morgan Stanley assumed coverage on Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock.

Institutional Investors Weigh In On Rogers Communications

A number of large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Rogers Communications by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,914,155 shares of the Wireless communications provider’s stock valued at $89,552,000 after buying an additional 17,666 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of Rogers Communications by 274.2% in the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock valued at $163,000 after buying an additional 3,888 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Rogers Communications by 31.5% in the fourth quarter. Geode Capital Management LLC now owns 2,149,482 shares of the Wireless communications provider’s stock valued at $67,040,000 after buying an additional 515,501 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Rogers Communications by 115.3% in the fourth quarter. Franklin Resources Inc. now owns 23,467 shares of the Wireless communications provider’s stock valued at $721,000 after buying an additional 12,567 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Rogers Communications by 95.6% during the 4th quarter. Wellington Management Group LLP now owns 43,424 shares of the Wireless communications provider’s stock valued at $1,334,000 after purchasing an additional 21,226 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Performance

NYSE RCI opened at $27.76 on Monday. The business’s 50-day moving average price is $30.19 and its 200 day moving average price is $35.60. Rogers Communications has a twelve month low of $26.57 and a twelve month high of $45.93. The company has a market capitalization of $14.84 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping 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, research analysts predict that Rogers Communications will post 3.58 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a $0.347 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.00%. Rogers Communications’s dividend payout ratio (DPR) is currently 60.78%.

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.