Brokerages Set Rogers Communications Inc. (NYSE:RCI) Target Price at $52.91

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have received an average recommendation of “Hold” from the fifteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $52.87.

A number of brokerages recently weighed in on RCI. JPMorgan Chase & Co. raised shares of M.D.C. from an “underweight” rating to a “neutral” rating in a research report on Monday, July 8th. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Scotiabank cut shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Monday, April 22nd. Scotia Howard Weill restated a “sector perform” rating on shares of Rogers Communications in a report on Monday, April 22nd. Finally, Royal Bank of Canada restated a “hold” rating on shares of Rogers Communications in a research report on Monday, April 22nd.

A number of institutional investors have recently added to or reduced their stakes in RCI. Gulf International Bank UK Ltd boosted its holdings in Rogers Communications by 3.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 7,057 shares of the Wireless communications provider’s stock worth $379,000 after acquiring an additional 250 shares during the last quarter. Investors Research Corp grew its holdings in shares of Rogers Communications by 1.4% during the second quarter. Investors Research Corp now owns 18,300 shares of the Wireless communications provider’s stock worth $979,000 after purchasing an additional 250 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Rogers Communications by 4.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,484 shares of the Wireless communications provider’s stock worth $486,000 after purchasing an additional 369 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in Rogers Communications by 7.9% in the first quarter. Wetherby Asset Management Inc. now owns 5,946 shares of the Wireless communications provider’s stock worth $320,000 after buying an additional 434 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Rogers Communications by 26.5% in the first quarter. Quadrant Capital Group LLC now owns 2,163 shares of the Wireless communications provider’s stock worth $111,000 after buying an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 44.05% of the company’s stock.

Shares of NYSE RCI traded down $0.43 during mid-day trading on Tuesday, hitting $53.28. The company had a trading volume of 290,734 shares, compared to its average volume of 323,010. Rogers Communications has a 1-year low of $48.67 and a 1-year high of $55.93. The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt-to-equity ratio of 1.77. The stock has a market cap of $27.43 billion, a P/E ratio of 15.90, a PEG ratio of 3.11 and a beta of 0.55. The business’s 50-day moving average price is $53.26.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, April 18th. The Wireless communications provider reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. Rogers Communications had a return on equity of 27.28% and a net margin of 13.47%. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company earned $0.93 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts expect that Rogers Communications will post 3.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $0.3732 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 2.80%. Rogers Communications’s payout ratio is currently 44.18%.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

Recommended Story: Capital gains and your 401(k) or IRA

Analyst Recommendations for Rogers Communications (NYSE:RCI)

Receive News & Ratings for Rogers Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communications and related companies with MarketBeat.com's FREE daily email newsletter.