Rogers Communication, Inc. (RCI) Given Consensus Rating of “Buy” by Brokerages
Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $56.43.
Several brokerages have recently weighed in on RCI. Zacks Investment Research upgraded Rogers Communication from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. BidaskClub upgraded Rogers Communication from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Finally, Morgan Stanley lifted their price target on Rogers Communication from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, August 25th.
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Rogers Communication (RCI) traded up 0.84% during mid-day trading on Friday, hitting $53.07. The stock had a trading volume of 351,020 shares. The firm’s 50-day moving average is $51.65 and its 200 day moving average is $47.03. The company has a market cap of $27.32 billion, a price-to-earnings ratio of 33.48 and a beta of 0.86. Rogers Communication has a 12 month low of $37.03 and a 12 month high of $53.12.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. Equities analysts anticipate that Rogers Communication will post $2.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.62%. The ex-dividend date is Thursday, September 14th. Rogers Communication’s dividend payout ratio is 95.95%.
A number of large investors have recently bought and sold shares of the stock. Advisory Services Network LLC boosted its stake in Rogers Communication by 8.3% during the second quarter. Advisory Services Network LLC now owns 12,221 shares of the Wireless communications provider’s stock valued at $577,000 after buying an additional 935 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Rogers Communication during the second quarter valued at $2,583,000. Gotham Asset Management LLC boosted its stake in Rogers Communication by 66.7% during the second quarter. Gotham Asset Management LLC now owns 191,112 shares of the Wireless communications provider’s stock valued at $9,022,000 after buying an additional 76,454 shares during the period. AHL Partners LLP boosted its stake in Rogers Communication by 4.7% during the second quarter. AHL Partners LLP now owns 124,428 shares of the Wireless communications provider’s stock valued at $5,874,000 after buying an additional 5,629 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Rogers Communication by 11.6% during the second quarter. Goldman Sachs Group Inc. now owns 991,813 shares of the Wireless communications provider’s stock valued at $46,823,000 after buying an additional 103,489 shares during the period. 47.55% of the stock is owned by institutional investors.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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