Rogers Communication, Inc. (NYSE:RCI) Receives $36.00 Consensus Target Price from Brokerages

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $36.00.

RCI has been the subject of several research reports. TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Thursday, July 23rd. Barclays cut their target price on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Raymond James Financial started coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Weiss Ratings raised Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. Finally, Wall Street Zen raised shares of Rogers Communication from a “sell” rating to a “hold” rating in a report on Saturday, August 15th.

Institutional Trading of Rogers Communication

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cidel Asset Management Inc. boosted its position in Rogers Communication by 49.1% in the 2nd quarter. Cidel Asset Management Inc. now owns 16,693 shares of the Wireless communications provider’s stock valued at $543,000 after buying an additional 5,500 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Rogers Communication by 2.5% in the 2nd quarter. Squarepoint Ops LLC now owns 21,669 shares of the Wireless communications provider’s stock valued at $704,000 after acquiring an additional 524 shares during the period. Nykredit A S purchased a new position in shares of Rogers Communication in the 2nd quarter valued at $1,847,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Rogers Communication during the 2nd quarter worth $1,395,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Rogers Communication during the 1st quarter worth $483,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Performance

RCI stock opened at $36.64 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. Rogers Communication has a 12-month low of $31.38 and a 12-month high of $41.14. The stock has a market capitalization of $19.79 billion, a PE ratio of 4.43, a price-to-earnings-growth ratio of 4.50 and a beta of 0.66. The stock’s 50 day simple moving average is $35.15 and its 200 day simple moving average is $36.21.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. As a group, research analysts forecast that Rogers Communication will post 3.29 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, September 8th. Rogers Communication’s dividend payout ratio is presently 17.39%.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.

Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.