Rogers Communication, Inc. (RCI) Given Consensus Recommendation of “Buy” by Analysts
Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have earned an average rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $57.29.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Rogers Communication from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Morgan Stanley upped their target price on Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, August 25th. Finally, BidaskClub raised Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th.
Several large investors have recently bought and sold shares of RCI. NGAM Advisors L.P. increased its stake in shares of Rogers Communication by 0.3% in the 2nd quarter. NGAM Advisors L.P. now owns 25,788 shares of the Wireless communications provider’s stock valued at $1,217,000 after purchasing an additional 81 shares in the last quarter. Creative Planning raised its holdings in Rogers Communication by 7.8% in the 2nd quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after purchasing an additional 173 shares during the period. US Bancorp DE raised its holdings in Rogers Communication by 8.8% in the 1st quarter. US Bancorp DE now owns 3,429 shares of the Wireless communications provider’s stock worth $152,000 after purchasing an additional 278 shares during the period. Comerica Bank boosted its position in Rogers Communication by 1.3% during the first quarter. Comerica Bank now owns 23,199 shares of the Wireless communications provider’s stock worth $1,068,000 after purchasing an additional 299 shares in the last quarter. Finally, AXA boosted its position in Rogers Communication by 1.8% during the second quarter. AXA now owns 27,848 shares of the Wireless communications provider’s stock worth $1,315,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 47.43% of the company’s stock.
Rogers Communication (NYSE:RCI) traded down 0.39% on Wednesday, hitting $51.44. The stock had a trading volume of 172,954 shares. Rogers Communication has a 52-week low of $37.03 and a 52-week high of $53.55. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 31.10 and a beta of 0.86. The company has a 50 day moving average price of $51.86 and a 200-day moving average price of $48.29.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Rogers Communication had a net margin of 7.42% and a return on equity of 28.90%. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that Rogers Communication will post $2.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Thursday, September 14th. Rogers Communication’s payout ratio is currently 102.03%.
Rogers Communication Company Profile
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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