Rogers Communications Inc. (NYSE:RCI) Receives $61.75 Average PT from Brokerages

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $61.75.

A number of analysts have weighed in on RCI shares. BMO Capital Markets raised their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. TD Securities boosted their price objective on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th.

Institutional Trading of Rogers Communications

Several institutional investors have recently modified their holdings of RCI. 1832 Asset Management L.P. lifted its holdings in Rogers Communications by 2.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock worth $425,341,000 after buying an additional 288,614 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Rogers Communications by 10.2% in the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after acquiring an additional 974,937 shares during the period. Toronto Dominion Bank increased its position in Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after purchasing an additional 2,206,690 shares during the period. National Bank of Canada FI increased its position in Rogers Communications by 18.6% during the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after purchasing an additional 977,924 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Rogers Communications by 371.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after purchasing an additional 3,980,525 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

NYSE:RCI opened at $35.74 on Wednesday. Rogers Communications has a twelve month low of $34.95 and a twelve month high of $48.19. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The stock’s 50-day simple moving average is $37.52 and its 200 day simple moving average is $38.42. The firm has a market capitalization of $19.10 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results 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. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. On average, analysts anticipate that Rogers Communications will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s payout ratio is currently 72.20%.

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 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.