Rogers Communication, Inc. (NYSE:RCI) Given Consensus Rating of “Hold” by Brokerages

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

A number of analysts recently issued reports on the company. Raymond James Financial started coverage on Rogers Communication in a research report on Wednesday. They issued an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a research report on Wednesday, June 17th. TD Securities downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Finally, Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd.

Institutional Trading of Rogers Communication

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCI. Manchester Capital Management LLC acquired a new stake in Rogers Communication in the fourth quarter valued at $26,000. Farther Finance Advisors LLC increased its stake in shares of Rogers Communication by 107.4% during the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 407 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Rogers Communication in the 3rd quarter valued at about $58,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 683 shares during the period. 45.49% of the stock is owned by institutional investors.

Rogers Communication Stock Performance

Shares of RCI stock opened at $34.67 on Monday. The company’s fifty day simple moving average is $35.84 and its 200-day simple moving average is $36.71. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The firm has a market cap of $18.73 billion, a PE ratio of 3.66, a P/E/G ratio of 4.21 and a beta of 0.64. Rogers Communication has a 12 month low of $31.38 and a 12 month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. Equities research analysts expect that Rogers Communication will post 3.36 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Tuesday, June 9th. Rogers Communication’s payout ratio is presently 15.30%.

About Rogers Communication

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.