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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $61.75.

A number of brokerages recently commented on RCI. BMO Capital Markets lifted their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. TD Securities upped their price target on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating on the stock.

Rogers Communications Stock Down 0.2 %

Shares of NYSE RCI opened at $30.49 on Friday. Rogers Communications has a 1 year low of $30.19 and a 1 year high of $48.19. The firm’s 50-day moving average is $35.67 and its 200-day moving average is $37.72. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $16.30 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. Equities analysts expect that Rogers Communications will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 71.71%.

Institutional Trading of Rogers Communications

A number of large investors have recently bought and sold shares of RCI. Cromwell Holdings LLC bought a new position in shares of Rogers Communications during the third quarter worth about $31,000. Ridgewood Investments LLC acquired a new position in Rogers Communications during the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. grew its stake in Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 522 shares in the last quarter. Grove Bank & Trust increased its position in shares of Rogers Communications by 41.0% during the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after purchasing an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Rogers Communications during the 2nd quarter worth approximately $55,000. 45.49% of the stock is owned by institutional investors.

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.