Rogers Communication, Inc. (NYSE:RCI) Given Average Recommendation of "Hold" by Brokerages

Shares of Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B have received a consensus rating of "Hold" from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned 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 $67.00.

RCI has been the subject of several recent research reports. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Canaccord Genuity Group upgraded Rogers Communication from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Finally, Scotiabank downgraded shares of Rogers Communication from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st.

Institutional Investors Weigh In On Rogers Communication

A number of large investors have recently modified their holdings of RCI. Jones Financial Companies Lllp grew its stake in shares of Rogers Communication 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 acquiring an additional 1,052 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Rogers Communication by 57.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 210,133 shares of the Wireless communications provider's stock worth $6,457,000 after acquiring an additional 76,373 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Rogers Communication during the fourth quarter worth about $608,000. PNC Financial Services Group Inc. grew its stake in shares of Rogers Communication by 4.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider's stock worth $436,000 after acquiring an additional 571 shares during the last quarter. Finally, Amundi grew its stake in shares of Rogers Communication by 27.4% during the fourth quarter. Amundi now owns 582,791 shares of the Wireless communications provider's stock worth $17,793,000 after acquiring an additional 125,183 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communication Stock Up 1.9%

Shares of RCI stock traded up $0.62 on Thursday, hitting $33.49. The stock had a trading volume of 2,117,243 shares, compared to its average volume of 1,092,428. The company has a quick ratio of 0.94, a current ratio of 1.00 and a debt-to-equity ratio of 3.97. The business has a 50 day moving average price of $27.76 and a 200 day moving average price of $27.63. The company has a market cap of $18.02 billion, a PE ratio of 14.37, a P/E/G ratio of 1.82 and a beta of 0.76. Rogers Communication has a one year low of $23.18 and a one year high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $4.96 billion. Rogers Communication had a net margin of 8.53% and a return on equity of 25.28%. The business's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Research analysts anticipate that Rogers Communication will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th were paid a dividend of $0.3611 per share. This is a positive change from Rogers Communication's previous quarterly dividend of $0.35. The ex-dividend date was Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.31%. Rogers Communication's payout ratio is presently 62.66%.

About Rogers Communication

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.