Rogers Communications Inc. (NYSE:RCI) Receives Average Rating of “Moderate Buy” from Brokerages

by · The Markets Daily

Shares of Rogers Communications Inc. (NYSE:RCI – Get Free Report) (TSE:RCI.B) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $61.75.

Several equities research analysts have recently weighed in on the company. TD Securities increased their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity Group restated a “hold” rating and issued a $57.00 price target (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. BMO Capital Markets lifted their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Canaccord Genuity Group lowered Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th.

Check Out Our Latest Research Report on RCI

Institutional Investors Weigh In On Rogers Communications

Institutional investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new position in shares of Rogers Communications in the 2nd quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Rogers Communications in the 1st quarter valued at $42,000. Acadian Asset Management LLC bought a new stake in shares of Rogers Communications in the 2nd quarter worth about $55,000. Finally, CWM LLC increased its position in shares of Rogers Communications by 342.3% during the 2nd quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock worth $67,000 after purchasing an additional 1,400 shares in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Stock Performance

Shares of RCI opened at $39.88 on Friday. The company has a market capitalization of $21.14 billion, a PE ratio of 49.85, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60. Rogers Communications has a one year low of $35.55 and a one year high of $48.19. The company’s fifty day moving average price is $39.41 and its 200 day moving average price is $39.41.

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.33. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.14 billion. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. As a group, analysts expect that Rogers Communications will post 3.59 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 9th will be paid a $0.365 dividend. The ex-dividend date is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.66%. Rogers Communications’s payout ratio is currently 185.00%.

Rogers Communications Company Profile

(Get Free Report

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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