Rogers Communication, Inc. (NYSE:RCI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $36.00.

Several brokerages recently weighed in on RCI. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Desjardins restated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Finally, Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd.

Rogers Communication Stock Performance

Shares of NYSE RCI opened at $38.57 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.53. Rogers Communication has a one year low of $26.30 and a one year high of $41.14. The business’s 50-day moving average price is $36.10 and its two-hundred day moving average price is $37.23. The company has a market capitalization of $20.84 billion, a P/E ratio of 4.07, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. Analysts anticipate that Rogers Communication will post 3.55 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 9th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio (DPR) is presently 15.51%.

Institutional Investors Weigh In On Rogers Communication

Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its holdings in shares of Rogers Communication by 16.9% during the 3rd quarter. Citigroup Inc. now owns 395,919 shares of the Wireless communications provider’s stock worth $13,633,000 after buying an additional 57,159 shares during the period. TD Asset Management Inc raised its holdings in Rogers Communication by 18.0% in the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after acquiring an additional 1,272,065 shares during the period. TD Waterhouse Canada Inc. raised its holdings in Rogers Communication by 1.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,446,406 shares of the Wireless communications provider’s stock worth $92,242,000 after acquiring an additional 32,872 shares during the period. DigitalBridge Group Inc. lifted its position in Rogers Communication by 33.5% during the 3rd quarter. DigitalBridge Group Inc. now owns 1,159,502 shares of the Wireless communications provider’s stock worth $39,968,000 after acquiring an additional 290,871 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Rogers Communication during the 3rd quarter worth $20,881,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.