Rogers Communication (NYSE:RCI) Share Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• Rogers Communication shares crossed above their 50-day moving average, reaching $36.57 before trading near $35.86. The stock remains below its 200-day average of $36.18.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy, two rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $36.00.
• The company beat quarterly earnings and revenue estimates, while projecting a 5.6% dividend yield based on its $0.50 quarterly dividend. Institutional investors own approximately 45.5% of the shares.

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B's stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $35.22 and traded as high as $36.57. Rogers Communication shares last traded at $35.8590, with a volume of 1,469,169 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RCI shares. Desjardins raised shares of Rogers Communication from a "hold" rating to a "buy" rating in a research note on Monday. Wall Street Zen upgraded Rogers Communication from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised Rogers Communication from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Raymond James Financial assumed coverage on Rogers Communication in a research note on Wednesday, July 15th. They set an "outperform" rating for the company. Finally, TD Securities reissued a "buy" rating on shares of Rogers Communication in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $36.00.

Rogers Communication Stock Performance

The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $19.37 billion, a P/E ratio of 4.33, a price-to-earnings-growth ratio of 4.55 and a beta of 0.66. The business's 50 day simple moving average is $35.22 and its two-hundred day simple moving average is $36.18.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued 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 firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business's revenue was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that Rogers Communication, Inc. will post 3.29 EPS for the current fiscal 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.6%. The ex-dividend date is Tuesday, September 8th. Rogers Communication's dividend payout ratio (DPR) is currently 17.39%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in shares of Rogers Communication by 39.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,689 shares of the Wireless communications provider's stock valued at $101,000 after acquiring an additional 761 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Rogers Communication by 1,314.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,337 shares of the Wireless communications provider's stock worth $126,000 after purchasing an additional 3,101 shares during the period. Parallel Advisors LLC lifted its position in Rogers Communication by 10.2% during the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider's stock valued at $130,000 after purchasing an additional 312 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in Rogers Communication during the first quarter valued at about $180,000. Finally, Cary Street Partners Financial LLC bought a new stake in Rogers Communication during the fourth quarter valued at about $195,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.

Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.

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