Rogers Communication, Inc. (NYSE:RCI) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Rogers Communication has a consensus “Hold” rating from nine brokerages, with five buys, three holds and one sell. The average 12-month price target is $36.00.
• Institutional investors increased their positions, and hedge funds and other institutions now own 45.49% of the company. The stock recently traded at $37.50, compared with a 52-week range of $31.38 to $41.14.
• Rogers exceeded quarterly expectations, reporting $0.83 in EPS and $3.95 billion in revenue, while revenue rose 7.6% year over year. The company also announced a quarterly dividend of $0.50 per share, representing a 5.3% annualized yield.

Shares of Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B have been given a consensus recommendation of "Hold" by the nine brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $36.00.

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Rogers Communication from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. TD Securities reaffirmed a "buy" rating on shares of Rogers Communication in a report on Thursday, July 23rd. Barclays cut their target price on shares of Rogers Communication from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, July 16th. Scotiabank reissued an "outperform" rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Finally, Raymond James Financial started coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They set an "outperform" rating on the stock.

Institutional Investors Weigh In On Rogers Communication

Several institutional investors have recently made changes to their positions in RCI. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Rogers Communication by 277.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider's stock worth $12,208,000 after purchasing an additional 233,449 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in Rogers Communication by 4.2% during the first quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider's stock valued at $38,117,000 after buying an additional 39,638 shares during the period. Swiss Life Asset Management Ltd grew its holdings in shares of Rogers Communication by 66.8% during the fourth quarter. Swiss Life Asset Management Ltd now owns 90,206 shares of the Wireless communications provider's stock worth $3,406,000 after purchasing an additional 36,114 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Rogers Communication by 30.7% in the 1st quarter. Bank of New York Mellon Corp now owns 426,113 shares of the Wireless communications provider's stock worth $16,384,000 after buying an additional 100,162 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Rogers Communication by 98.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider's stock worth $77,871,000 after acquiring an additional 1,004,963 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communication Price Performance

Shares of NYSE RCI opened at $37.50 on Tuesday. The stock has a fifty day simple moving average of $34.69 and a two-hundred day simple moving average of $36.28. Rogers Communication has a 1-year low of $31.38 and a 1-year high of $41.14. The firm has a market cap of $20.26 billion, a price-to-earnings ratio of 4.53, a price-to-earnings-growth ratio of 4.66 and a beta of 0.66. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period last year, the business posted $1.14 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Analysts anticipate that Rogers Communication will post 3.29 earnings per share for the current year.

Rogers Communication Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 5.3%. Rogers Communication's payout ratio is presently 17.51%.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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