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

Key Points

• Rogers Communication has a consensus analyst rating of “Hold”, based on nine brokerages covering the stock. The average 12-month price target is $36.00.
• Recent analyst actions were mixed, including a downgrade from TD Securities to hold and a target price cut from Barclays to $36.00, while Raymond James Financial initiated coverage with an outperform rating.
• The company recently reported quarterly EPS of $0.74, slightly ahead of expectations, and paid a quarterly dividend of $0.50, implying an annualized yield of 5.8%.

Shares of Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B have earned a consensus recommendation of "Hold" from the nine ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $36.00.

A number of research analysts have issued reports on RCI shares. TD Securities cut Rogers Communication from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Rogers Communication in a research report on Wednesday, June 17th. Barclays dropped their target price on shares of Rogers Communication from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Thursday. Desjardins reiterated a "hold" rating on shares of Rogers Communication in a report on Thursday, April 23rd. Finally, Raymond James Financial started coverage on shares of Rogers Communication in a research report on Wednesday. They set an "outperform" rating for the company.

Hedge Funds Weigh In On Rogers Communication

Large investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new stake in shares of Rogers Communication in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC grew its holdings in shares of Rogers Communication by 107.4% during the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider's stock worth $30,000 after buying an additional 407 shares in the last quarter. Headlands Technologies LLC raised its position in Rogers Communication by 143.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider's stock valued at $49,000 after buying an additional 978 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Rogers Communication in the 3rd quarter valued at approximately $58,000. Finally, EverSource Wealth Advisors LLC raised its position in Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider's stock valued at $59,000 after buying an additional 683 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Rogers Communication Trading Up 0.0%

Shares of NYSE RCI opened at $34.67 on Monday. The company's fifty day moving average is $35.84 and its 200-day moving average is $36.71. The stock has a market cap of $18.73 billion, a price-to-earnings ratio of 3.66, a P/E/G ratio of 4.21 and a beta of 0.64. Rogers Communication has a twelve month low of $31.38 and a twelve month high of $41.14. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. Equities research analysts predict that Rogers Communication will post 3.36 EPS for the current year.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, June 9th. Rogers Communication's payout ratio is currently 15.30%.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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