Rogers Communication, Inc. (NYSE:RCI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research 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 1 year price objective among brokers that have updated their coverage on the stock in the last year is $36.00.

A number of research firms have recently weighed in on RCI. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Barclays reduced their price objective on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Desjardins reissued a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Raymond James Financial assumed coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. Finally, TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a report on Thursday.

Institutional Trading of Rogers Communication

Several large investors have recently bought and sold shares of the company. Fiera Capital Corp grew its stake in Rogers Communication by 8,881.3% in the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after acquiring an additional 7,116,744 shares during the last quarter. Morgan Stanley raised its position in Rogers Communication by 138.0% during the fourth quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock worth $191,681,000 after acquiring an additional 2,945,885 shares during the last quarter. Bank of America Corp DE raised its position in Rogers Communication by 67.8% during the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock worth $167,765,000 after acquiring an additional 1,966,476 shares during the last quarter. Caisse de depot et placement du Quebec purchased a new stake in shares of Rogers Communication in the third quarter valued at about $47,082,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Rogers Communication by 98.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock valued at $77,871,000 after purchasing an additional 1,004,963 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Performance

Shares of RCI stock opened at $32.76 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.54. The stock has a 50 day simple moving average of $35.59 and a 200-day simple moving average of $36.57. The company has a market cap of $17.70 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 4.07 and a beta of 0.64. Rogers Communication has a 12-month low of $31.38 and a 12-month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.91 billion. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share. On average, equities analysts forecast that Rogers Communication will post 3.27 EPS for the current year.

Rogers Communication Announces Dividend

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 dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.00 annualized dividend and a yield of 6.1%. Rogers Communication’s payout ratio is currently 15.30%.

Rogers Communication Company Profile

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.