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

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $61.75.

Several equities analysts have weighed in on RCI shares. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley assumed coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Scotiabank cut shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $26.06 on Tuesday. Rogers Communications has a 52 week low of $24.76 and a 52 week high of $41.84. The firm has a market capitalization of $13.97 billion, a P/E ratio of 11.23, a PEG ratio of 1.43 and a beta of 0.67. The firm’s 50 day moving average is $27.78 and its two-hundred day moving average is $32.53. 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 announced its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating 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%. Analysts anticipate that Rogers Communications will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were issued a $0.347 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 5.33%. Rogers Communications’s dividend payout ratio (DPR) is 59.48%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Lindbrook Capital LLC increased its holdings in Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after buying an additional 744 shares during the period. Jones Financial Companies Lllp lifted its stake in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock worth $55,000 after purchasing an additional 1,052 shares during the period. Versant Capital Management Inc acquired a new stake in Rogers Communications during the first quarter valued at approximately $79,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Rogers Communications in the 3rd quarter valued at approximately $206,000. Finally, Headlands Technologies LLC raised its holdings in shares of Rogers Communications by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock worth $163,000 after buying an additional 3,888 shares in the last quarter. 45.49% 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 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.