Rogers Communications Inc. (NYSE:RCI) Receives $61.75 Consensus Price Target from Analysts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $61.75.

Several research analysts have commented on RCI shares. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. BMO Capital Markets increased their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Canaccord Genuity Group restated a “hold” rating and issued a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Finally, TD Securities increased their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RCI. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Rogers Communications by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 785,748 shares of the Wireless communications provider’s stock worth $32,215,000 after purchasing an additional 4,745 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Rogers Communications by 104.6% during the 1st quarter. BNP Paribas Financial Markets now owns 47,540 shares of the Wireless communications provider’s stock worth $1,949,000 after purchasing an additional 24,309 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Rogers Communications during the 1st quarter worth $493,000. FORA Capital LLC acquired a new position in shares of Rogers Communications during the 1st quarter worth $483,000. Finally, Lorne Steinberg Wealth Management Inc. increased its stake in shares of Rogers Communications by 3.1% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 83,856 shares of the Wireless communications provider’s stock worth $3,437,000 after purchasing an additional 2,546 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $36.66 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. Rogers Communications has a fifty-two week low of $35.55 and a fifty-two week high of $48.19. The firm has a 50-day simple moving average of $39.29 and a 200 day simple moving average of $38.79. The company has a market cap of $19.53 billion, a PE ratio of 17.88, a P/E/G ratio of 1.12 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that Rogers Communications will post 3.55 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $0.3611 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 3.94%. Rogers Communications’s payout ratio is 71.71%.

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.