Rogers Communications Inc. (NYSE:RCI) Receives $67.00 Average Target Price from Brokerages

Shares of Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B have earned an average recommendation of "Hold" from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $67.00.

A number of brokerages have weighed in on RCI. Scotiabank lowered shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th.

Rogers Communications Stock Performance

NYSE:RCI traded up $0.05 during mid-day trading on Wednesday, reaching $26.09. The company's stock had a trading volume of 738,732 shares, compared to its average volume of 1,012,920. Rogers Communications has a 12-month low of $23.18 and a 12-month high of $41.84. The firm's fifty day moving average price is $25.65 and its two-hundred day moving average price is $28.87. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The stock has a market cap of $13.99 billion, a P/E ratio of 11.25, a PEG ratio of 1.43 and a beta of 0.73.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 earnings per share. On average, equities analysts forecast that Rogers Communications will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be given a dividend of $0.3611 per share. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.54%. Rogers Communications's payout ratio is presently 59.66%.

Hedge Funds Weigh In On Rogers Communications

Institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. increased its position in Rogers Communications by 1.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider's stock worth $725,000 after buying an additional 379 shares in the last quarter. Forsta AP Fonden increased its holdings in Rogers Communications by 3.2% in the 4th quarter. Forsta AP Fonden now owns 84,400 shares of the Wireless communications provider's stock worth $2,593,000 after acquiring an additional 2,600 shares in the last quarter. Waldron Private Wealth LLC raised its stake in Rogers Communications by 3.1% during the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider's stock worth $682,000 after acquiring an additional 660 shares during the period. Vest Financial LLC lifted its holdings in Rogers Communications by 59.2% during the fourth quarter. Vest Financial LLC now owns 24,623 shares of the Wireless communications provider's stock valued at $757,000 after purchasing an additional 9,160 shares in the last quarter. Finally, American Capital Advisory LLC boosted its position in shares of Rogers Communications by 1,349.5% in the fourth quarter. American Capital Advisory LLC now owns 16,945 shares of the Wireless communications provider's stock worth $521,000 after purchasing an additional 15,776 shares during the period. 45.49% of the stock is owned by institutional investors.

About Rogers Communications

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.