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

Key Points

• Rogers Communication, Inc. (NYSE: RCI) is currently rated as a "Hold" by analysts, with one sell rating, three hold ratings, and two buy ratings from a total of six ratings firms.
• The company has recently increased its quarterly dividend to $0.3672, providing an annualized yield of 4.2% for investors.
• Rogers Communication reported earnings of $0.82 per share for the last quarter, exceeding analysts' expectations of $0.80, albeit with revenue below estimates at $3.82 billion.

Shares of Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B have been assigned an average recommendation of "Hold" from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $33.00.

RCI has been the subject of a number of research reports. Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Barclays boosted their target price on Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th.

Institutional Trading of Rogers Communication

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in shares of Rogers Communication by 303.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider's stock valued at $148,047,000 after purchasing an additional 4,166,861 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Rogers Communication in the 2nd quarter worth approximately $78,714,000. Platinum Investment Management Ltd. bought a new stake in Rogers Communication during the second quarter worth approximately $77,687,000. Canada Pension Plan Investment Board lifted its stake in shares of Rogers Communication by 373.1% in the first quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider's stock worth $76,671,000 after buying an additional 2,263,859 shares during the last quarter. Finally, Value Partners Investments Inc. grew its stake in Rogers Communication by 1,252.8% in the 1st quarter. Value Partners Investments Inc. now owns 2,312,136 shares of the Wireless communications provider's stock valued at $61,808,000 after buying an additional 2,141,227 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Rogers Communication Trading Down 0.8%

Shares of NYSE RCI opened at $35.11 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. Rogers Communication has a one year low of $23.18 and a one year high of $40.70. The business has a 50-day moving average price of $34.78 and a two-hundred day moving average price of $29.78. The firm has a market capitalization of $18.89 billion, a PE ratio of 17.47, a PEG ratio of 2.34 and a beta of 0.79.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The firm's revenue was up 2.4% compared to the same quarter last year. As a group, analysts predict that Rogers Communication will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 8th will be issued a $0.3672 dividend. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, September 8th. Rogers Communication's dividend payout ratio is currently 71.64%.

Rogers Communication Company Profile

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.

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