Rogers Communications (NYSE:RCI) (TSE:RCI.B) had its price target lifted by BMO Capital Markets from $68.00 to $70.00 in a research note issued to investors on Friday, The Fly reports. The firm currently has an outperform rating on the Wireless communications provider’s stock.
A number of other brokerages have also recently weighed in on RCI. Scotiabank dropped their price objective on shares of Rogers Communications from $64.00 to $62.00 and set an outperform rating for the company in a research note on Thursday, July 23rd. TD Securities boosted their price target on Rogers Communications from $69.00 to $73.00 and gave the stock a buy rating in a report on Friday. Canaccord Genuity cut their price target on Rogers Communications from $58.00 to $57.00 and set a buy rating for the company in a report on Wednesday, October 14th. Veritas Investment Research raised Rogers Communications from a sell rating to a buy rating in a report on Thursday, July 23rd. Finally, Barclays began coverage on Rogers Communications in a research report on Friday, October 2nd. They set an equal weight rating and a $43.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $62.56.
Shares of RCI opened at $42.90 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.76. The firm’s 50-day moving average is $40.56 and its two-hundred day moving average is $41.26. Rogers Communications has a twelve month low of $32.20 and a twelve month high of $51.29. The firm has a market capitalization of $21.66 billion, a P/E ratio of 17.37, a PEG ratio of 4.25 and a beta of 0.50.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, October 22nd. The Wireless communications provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.46. Rogers Communications had a net margin of 11.89% and a return on equity of 18.57%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts predict that Rogers Communications will post 2.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Thursday, December 10th will be paid a dividend of $0.3804 per share. The ex-dividend date of this dividend is Wednesday, December 9th. This represents a $1.52 annualized dividend and a yield of 3.55%. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s dividend payout ratio is presently 48.88%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its stake in Rogers Communications by 81.2% during the second quarter. Parallel Advisors LLC now owns 792 shares of the Wireless communications provider’s stock valued at $31,000 after buying an additional 355 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Rogers Communications by 1,600.5% during the second quarter. Rockefeller Capital Management L.P. now owns 3,452 shares of the Wireless communications provider’s stock valued at $139,000 after buying an additional 3,249 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Rogers Communications by 21.2% during the second quarter. Glenmede Trust Co. NA now owns 3,659 shares of the Wireless communications provider’s stock valued at $147,000 after buying an additional 640 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Rogers Communications by 42.4% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 5,039 shares of the Wireless communications provider’s stock valued at $199,000 after buying an additional 1,500 shares in the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in Rogers Communications during the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.
Rogers Communications Company Profile
Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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