Rogers Communications Inc. (NYSE:RCI) Given Consensus Recommendation of “Hold” by Analysts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $61.75.

Several brokerages recently issued reports on RCI. Morgan Stanley initiated coverage on Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating on the stock. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th.

Institutional Trading of Rogers Communications

Several hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in Rogers Communications during the second quarter valued at $55,000. American Century Companies Inc. increased its holdings in shares of Rogers Communications by 9.7% in the 2nd quarter. American Century Companies Inc. now owns 68,679 shares of the Wireless communications provider’s stock worth $2,540,000 after buying an additional 6,099 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Rogers Communications by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,521,446 shares of the Wireless communications provider’s stock valued at $56,071,000 after buying an additional 21,060 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Rogers Communications by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 604,138 shares of the Wireless communications provider’s stock valued at $22,341,000 after acquiring an additional 33,930 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in Rogers Communications during the second quarter worth approximately $867,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

Shares of NYSE RCI opened at $28.19 on Thursday. The stock has a market cap of $15.07 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.69. Rogers Communications has a 1 year low of $27.63 and a 1 year high of $48.19. The firm has a fifty day moving average price of $32.81 and a 200-day moving average price of $36.71. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business posted $0.95 EPS. Rogers Communications’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts anticipate that Rogers Communications will post 3.52 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were issued a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a yield of 5.12%. The ex-dividend date was Monday, December 9th. Rogers Communications’s dividend payout ratio is presently 68.78%.

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.