Rogers Communication, Inc. (NYSE:RCI) Receives $67.00 Consensus PT from Brokerages

Shares of Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B have earned an average rating of "Hold" from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $67.00.

Several equities research analysts recently commented on the company. Canaccord Genuity Group raised Rogers Communication from a "hold" rating to a "buy" rating in a report on Friday, April 4th. BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Finally, Scotiabank lowered 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

Several large investors have recently modified their holdings of RCI. SBI Securities Co. Ltd. boosted its stake in Rogers Communication by 885.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after purchasing an additional 850 shares during the period. Jones Financial Companies Lllp raised its position in 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 valued at $55,000 after acquiring an additional 1,052 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Rogers Communication in the 1st quarter valued at $79,000. Parallel Advisors LLC lifted its position in shares of Rogers Communication by 176.9% in the second quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider's stock worth $86,000 after buying an additional 1,847 shares during the last quarter. Finally, CWM LLC boosted its position in Rogers Communication by 57.4% during the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock worth $100,000 after purchasing an additional 1,363 shares during the period. 45.49% of the stock is owned by institutional investors.

Rogers Communication Stock Performance

Shares of RCI traded up $0.73 during trading hours on Thursday, reaching $32.88. 1,489,454 shares of the company's stock traded hands, compared to its average volume of 1,087,129. Rogers Communication has a twelve month low of $23.18 and a twelve month high of $41.84. The business's fifty day simple moving average is $27.45 and its two-hundred day simple moving average is $27.59. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.00 and a quick ratio of 0.94. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.79 and a beta of 0.76.

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

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th were issued a $0.3611 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.44 annualized dividend and a dividend yield of 4.39%. This is a boost from Rogers Communication's previous quarterly dividend of $0.35. Rogers Communication's dividend payout ratio is currently 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.