Rogers Communication, Inc. (NYSE:RCI) Stock Has Average Target Price of $36.00 According to Brokerages

Key Points

• Analysts maintain a moderately bullish view: Rogers Communication has a “Moderate Buy” consensus from nine analysts, with six buys, two holds and one sell. The average 12-month price target is $36.00 versus the stock’s reported $30.84 price.
• Recent results exceeded expectations: Rogers reported quarterly EPS of $0.83 versus the $0.80 consensus estimate, while revenue rose 7.6% year over year to $3.95 billion.
• The company offers a sizable dividend but carries leverage: Its annualized dividend is C$2.00 per share, representing a 6.5% yield, while the reported debt-to-equity ratio stands at 1.54.

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B has been assigned an average recommendation of "Moderate Buy" from the nine research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $36.00.

A number of equities analysts have issued reports on RCI shares. Desjardins upgraded Rogers Communication from a "hold" rating to a "buy" rating in a research report on Monday, September 14th. Barclays cut their price objective on 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. Weiss Ratings upgraded Rogers Communication from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Wall Street Zen cut shares of Rogers Communication from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Raymond James Financial began coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They issued an "outperform" rating for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RCI. Parallel Advisors LLC boosted its stake in Rogers Communication by 10.2% during the 1st quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider's stock worth $130,000 after purchasing an additional 312 shares during the last quarter. Monarch Capital Management Inc. raised its position in shares of Rogers Communication by 0.6% in the first quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider's stock valued at $2,299,000 after buying an additional 360 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Rogers Communication by 15.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider's stock worth $119,000 after buying an additional 418 shares in the last quarter. Versant Capital Management Inc boosted its position in Rogers Communication by 8.2% during the third quarter. Versant Capital Management Inc now owns 6,326 shares of the Wireless communications provider's stock worth $195,000 after acquiring an additional 480 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Rogers Communication by 2.5% during the second quarter. Squarepoint Ops LLC now owns 21,669 shares of the Wireless communications provider's stock worth $704,000 after acquiring an additional 524 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Stock Up 0.4%

RCI opened at $30.84 on Friday. Rogers Communication has a fifty-two week low of $30.15 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55. The company has a fifty day moving average of $35.02 and a two-hundred day moving average of $35.56. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 3.73, a PEG ratio of 3.85 and a beta of 0.65.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the company posted $1.14 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts expect that Rogers Communication will post 3.26 earnings per share for the current year.

Rogers Communication Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th were paid a dividend of C$0.50 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.5%. Rogers Communication's payout ratio is currently 17.39%.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers' telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.

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