Rogers Communication, Inc. (NYSE:RCI) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Rogers Communication has a consensus “Hold” rating from nine analysts: five rate it a buy, three a hold, and one a sell. The average 12-month price target is $36.00, below the reported share price of $36.37.
• The company beat quarterly expectations, reporting $0.83 in EPS versus the $0.80 consensus and revenue of $3.95 billion, up 7.6% year over year. Analysts expect full-year EPS of $3.27.
• Rogers announced a quarterly dividend of $0.50, equivalent to a $2.00 annualized payout and a 5.5% dividend yield; institutional investors own 45.49% of the stock.

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B has been given a consensus rating of "Hold" by the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $36.00.

A number of research firms have recently issued reports on RCI. Desjardins reissued a "hold" rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Rogers Communication from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. Barclays dropped their target price on shares of Rogers Communication from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, July 16th. TD Securities reissued a "buy" rating on shares of Rogers Communication in a research report on Thursday, July 23rd. Finally, Wall Street Zen cut Rogers Communication from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th.

Hedge Funds Weigh In On Rogers Communication

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its stake in Rogers Communication by 52.3% during the second quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider's stock worth $27,724,000 after purchasing an additional 321,124 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider's stock valued at $59,000 after purchasing an additional 683 shares during the period. Marshall Wace LLP boosted its stake in shares of Rogers Communication by 36.5% in the second quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider's stock valued at $1,103,000 after purchasing an additional 9,951 shares during the period. Cerity Partners LLC grew its holdings in shares of Rogers Communication by 7.0% in the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider's stock valued at $326,000 after purchasing an additional 724 shares in the last quarter. Finally, AXA S.A. grew its holdings in shares of Rogers Communication by 231.1% in the second quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider's stock valued at $1,481,000 after purchasing an additional 34,860 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Stock Performance

NYSE RCI opened at $36.37 on Friday. The stock has a fifty day simple moving average of $34.83 and a 200-day simple moving average of $36.38. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The stock has a market cap of $19.65 billion, a PE ratio of 4.39, a P/E/G ratio of 4.47 and a beta of 0.64. Rogers Communication has a twelve month low of $31.38 and a twelve month high of $41.14.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. Rogers Communication's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Equities analysts anticipate that Rogers Communication will post 3.27 earnings per share for the current year.

Rogers Communication Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, September 8th. Rogers Communication's payout ratio is currently 17.51%.

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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