Analysts Set Rogers Communication, Inc. (NYSE:RCI) Target Price at $72.00

Key Points

• Rogers Communication, Inc. has received an average rating of "Hold" from seven research firms, with a target price of $72.00 among those analysts.
• The company declared an increase in its quarterly dividend to $0.3672, reflecting an annualized yield of 4.4%.
• Rogers Communication reported a net margin of 7.33%, with earnings per share of $0.82 for the last quarter, surpassing analysts’ expectations.

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B has been assigned an average recommendation of "Hold" from the seven research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $72.00.

A number of equities analysts have commented on the stock. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th.

Rogers Communication Stock Performance

NYSE:RCI traded down $0.35 during trading hours on Monday, hitting $33.70. 1,280,364 shares of the company traded hands, compared to its average volume of 1,548,633. The firm has a 50-day moving average of $30.35 and a 200 day moving average of $28.01. 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 twelve month low of $23.18 and a twelve month high of $41.84. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 1.84 and a beta of 0.77.

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

Rogers Communication Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be paid a dividend of $0.3672 per share. The ex-dividend date is Monday, September 8th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio (DPR) is currently 72.64%.

Hedge Funds Weigh In On Rogers Communication

A number of hedge funds and other institutional investors have recently bought and sold shares of RCI. K.J. Harrison & Partners Inc bought a new stake in shares of Rogers Communication during the 2nd quarter valued at $208,000. QV Investors Inc. acquired a new position in Rogers Communication in the second quarter valued at approximately $17,440,000. MQS Management LLC bought a new position in Rogers Communication in the second quarter worth approximately $429,000. Cardinal Point Capital Management ULC increased its stake in Rogers Communication by 2.7% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 336,263 shares of the Wireless communications provider's stock valued at $9,955,000 after purchasing an additional 8,711 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its position in Rogers Communication by 1.6% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 122,961 shares of the Wireless communications provider's stock valued at $3,650,000 after acquiring an additional 1,964 shares in the last quarter. Institutional investors own 45.49% of the company's stock.

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.