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

Key Points

• Nine brokerages give Rogers a consensus rating of Hold (1 sell, 4 hold, 4 buy) with an average 12‑month price target of $36.00.
• In the latest quarter Rogers reported EPS of $0.74, slightly above consensus, while revenue of $3.94 billion missed the $5.44 billion estimate despite rising 10.2% year‑over‑year.
• Rogers announced a quarterly dividend of $0.50 ($2.00 annualized), implying a 5.5% yield and a payout ratio of about 15.5%.

Shares of Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B have been assigned a consensus rating of "Hold" from the nine brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $36.00.

A number of brokerages have recently issued reports on RCI. Desjardins reissued a "hold" rating on shares of Rogers Communication in a research note on Thursday, April 23rd. TD Securities lowered Rogers Communication from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. TD Cowen reiterated a "buy" rating on shares of Rogers Communication in a research report on Friday, January 30th. Royal Bank Of Canada reissued an "outperform" rating on shares of Rogers Communication in a report on Tuesday, January 13th. Finally, Barclays restated a "positive" rating and set a $37.00 target price on shares of Rogers Communication in a research report on Tuesday, January 27th.

Rogers Communication Stock Up 2.0%

Shares of NYSE:RCI opened at $36.61 on Wednesday. Rogers Communication has a fifty-two week low of $24.80 and a fifty-two week 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. The firm's 50-day simple moving average is $37.21 and its 200-day simple moving average is $37.44. The company has a market cap of $19.78 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 3.16 and a beta of 0.61.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced 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. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Rogers Communication will post 3.55 earnings per share for the current year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a yield of 5.5%. Rogers Communication's payout ratio is currently 15.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RCI. Bank of New York Mellon Corp increased its holdings in Rogers Communication by 30.7% in the first quarter. Bank of New York Mellon Corp now owns 426,113 shares of the Wireless communications provider's stock valued at $16,384,000 after buying an additional 100,162 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Rogers Communication during the 1st quarter worth approximately $380,000. Hillsdale Investment Management Inc. grew its holdings in shares of Rogers Communication by 4.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider's stock worth $38,117,000 after acquiring an additional 39,638 shares during the period. Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of Rogers Communication by 14.6% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 88,100 shares of the Wireless communications provider's stock worth $3,377,000 after acquiring an additional 11,237 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in Rogers Communication by 5.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 210,891 shares of the Wireless communications provider's stock valued at $8,085,000 after purchasing an additional 11,031 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

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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