Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $61.00.
Several brokerages recently commented on RCI. Desjardins cut Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Zacks Investment Research upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Wednesday, September 19th. ValuEngine upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Barclays dropped their target price on Rogers Communications from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, July 20th.
Shares of RCI traded up $0.04 during trading hours on Thursday, hitting $51.12. 25,597 shares of the stock were exchanged, compared to its average volume of 412,527. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 0.72. Rogers Communications has a 12-month low of $43.11 and a 12-month high of $54.95. The stock has a market capitalization of $26.03 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 3.12 and a beta of 0.72.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.05. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.91 billion. On average, analysts predict that Rogers Communications will post 3.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 11th will be issued a $0.3695 dividend. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.48 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Monday, December 10th. Rogers Communications’s dividend payout ratio is presently 54.24%.
A number of large investors have recently modified their holdings of RCI. Beutel Goodman & Co Ltd. grew its holdings in Rogers Communications by 9.7% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 21,014,591 shares of the Wireless communications provider’s stock valued at $998,281,000 after buying an additional 1,854,605 shares in the last quarter. Toronto Dominion Bank grew its holdings in Rogers Communications by 22.5% in the 3rd quarter. Toronto Dominion Bank now owns 4,291,153 shares of the Wireless communications provider’s stock valued at $221,016,000 after buying an additional 787,068 shares in the last quarter. Marshall Wace LLP purchased a new stake in Rogers Communications in the 2nd quarter valued at $35,059,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in Rogers Communications by 26.3% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,312,555 shares of the Wireless communications provider’s stock valued at $144,396,000 after buying an additional 482,000 shares in the last quarter. Finally, Addenda Capital Inc. grew its holdings in Rogers Communications by 96.2% in the 2nd quarter. Addenda Capital Inc. now owns 896,610 shares of the Wireless communications provider’s stock valued at $41,605,000 after buying an additional 439,687 shares in the last quarter. Institutional investors own 46.12% of the company’s stock.
Rogers Communications Company Profile
Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.
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