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

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $36.00.

Several research analysts have recently weighed in on RCI shares. Desjardins restated a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Scotiabank upgraded shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, June 17th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. grew its stake in Rogers Communication by 16.9% in the 3rd quarter. Citigroup Inc. now owns 395,919 shares of the Wireless communications provider’s stock valued at $13,633,000 after buying an additional 57,159 shares during the last quarter. TD Asset Management Inc grew its stake 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 valued at $287,340,000 after buying an additional 1,272,065 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake 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 valued at $92,242,000 after buying an additional 32,872 shares during the last quarter. DigitalBridge Group Inc. boosted its holdings in Rogers Communication by 33.5% in the 3rd quarter. DigitalBridge Group Inc. now owns 1,159,502 shares of the Wireless communications provider’s stock valued at $39,968,000 after purchasing an additional 290,871 shares during the period. Finally, Guardian Capital LP grew its position in shares of Rogers Communication by 5.3% during the 3rd quarter. Guardian Capital LP now owns 623,545 shares of the Wireless communications provider’s stock worth $21,470,000 after purchasing an additional 31,301 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Down 3.0%

Rogers Communication stock opened at $35.49 on Thursday. The firm has a market capitalization of $19.17 billion, a PE ratio of 3.74, a P/E/G ratio of 3.22 and a beta of 0.62. The company’s 50-day moving average is $36.61 and its 200-day moving average is $37.15. Rogers Communication has a fifty-two week low of $28.66 and a fifty-two week high of $41.14. 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 (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. Rogers Communication’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. Sell-side analysts anticipate that Rogers Communication will post 3.55 earnings per share for the current year.

Rogers Communication Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.6%. Rogers Communication’s payout ratio is currently 15.30%.

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.