Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have earned an average rating of “Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $64.00.
A number of research firms have recently issued reports on RCI. Barclays restated a “hold” rating and issued a $55.00 target price on shares of Rogers Communications in a report on Friday, January 26th. National Bank Financial lowered Rogers Communications from an “outperform” rating to a “sector perform” rating in a report on Friday, January 26th. TheStreet upgraded Rogers Communications from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded Rogers Communications from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Finally, Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating in a report on Monday, January 8th.
Several large investors have recently made changes to their positions in RCI. Parametric Portfolio Associates LLC raised its holdings in shares of Rogers Communications by 27.6% during the second quarter. Parametric Portfolio Associates LLC now owns 144,126 shares of the Wireless communications provider’s stock worth $6,804,000 after acquiring an additional 31,161 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Rogers Communications by 33.3% during the second quarter. Dimensional Fund Advisors LP now owns 176,376 shares of the Wireless communications provider’s stock worth $8,327,000 after acquiring an additional 44,044 shares in the last quarter. OxFORD Asset Management LLP raised its holdings in shares of Rogers Communications by 11.8% during the second quarter. OxFORD Asset Management LLP now owns 8,138 shares of the Wireless communications provider’s stock worth $384,000 after acquiring an additional 857 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Rogers Communications by 11.1% during the second quarter. Voya Investment Management LLC now owns 13,174 shares of the Wireless communications provider’s stock worth $621,000 after acquiring an additional 1,318 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in Rogers Communications during the second quarter valued at about $736,000. Institutional investors and hedge funds own 47.51% of the company’s stock.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 25th. The Wireless communications provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.63 billion. Rogers Communications had a return on equity of 30.65% and a net margin of 12.09%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. equities analysts expect that Rogers Communications will post 3.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 12th will be issued a dividend of $0.3843 per share. The ex-dividend date is Friday, March 9th. This represents a $1.54 annualized dividend and a dividend yield of 3.35%. Rogers Communications’s dividend payout ratio is 59.77%.
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About Rogers Communications
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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