Rogers Communication (NYSE:RCI) Stock Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Rogers Communication shares crossed above their 50-day moving average, trading at about $33.55 versus the $33.49 average, though still below the 200-day average of $35.66.
• Analyst sentiment is broadly 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 $35.
• The company beat quarterly expectations with EPS of $0.92 versus $0.84 forecast and revenue of $3.82 billion, while announcing a quarterly C$0.50 dividend equivalent to a 6.0% annualized yield.

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $33.49 and traded as high as $33.59. Rogers Communication shares last traded at $33.55, with a volume of 1,191,668 shares traded.

Analysts Set New Price Targets

RCI has been the subject of several research analyst reports. Wall Street Zen raised shares of Rogers Communication from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. Desjardins raised Rogers Communication from a "hold" rating to a "buy" rating in a research note on Monday, September 14th. Weiss Ratings upgraded Rogers Communication from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, October 26th. TD Securities reiterated a "buy" rating on shares of Rogers Communication in a report on Thursday, July 23rd. Finally, Raymond James Financial assumed coverage on Rogers Communication in a research note on Wednesday, July 15th. They issued an "outperform" rating for the company. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Rogers Communication presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Rogers Communication Stock Performance

The stock has a market cap of $18.12 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 3.58 and a beta of 0.65. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.67 and a quick ratio of 0.51. The stock's 50 day simple moving average is $33.49 and its two-hundred day simple moving average is $35.66.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Friday, October 23rd. The Wireless communications provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. Rogers Communication had a net margin of 4.11% and a return on equity of 11.51%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The firm's revenue was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 8th will be paid a C$0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 6.0%. Rogers Communication's dividend payout ratio is presently 120.00%.

Institutional Trading of Rogers Communication

Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc increased its stake in Rogers Communication by 224.7% in the 3rd quarter. IFP Advisors Inc now owns 1,445 shares of the Wireless communications provider's stock valued at $45,000 after buying an additional 1,000 shares during the last quarter. Mather Group LLC. bought a new stake in Rogers Communication during the 3rd quarter worth about $75,000. Fortitude Family Office LLC acquired a new position in shares of Rogers Communication during the 3rd quarter worth about $76,000. EverSource Wealth Advisors LLC boosted its stake in shares of Rogers Communication by 15.5% during the 1st 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 during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of 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 buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.

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