Rogers Communication, Inc. (NYSE:RCI) Receives $36.00 Average Target Price from Brokerages

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $36.00.

Several brokerages recently commented on RCI. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. TD Securities lowered Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd.

Rogers Communication Price Performance

Shares of RCI opened at $37.68 on Friday. The business has a 50-day simple moving average of $36.05 and a two-hundred day simple moving average of $37.23. The stock has a market cap of $20.35 billion, a PE ratio of 3.97, a PEG ratio of 3.31 and a beta of 0.62. Rogers Communication has a 12-month low of $26.30 and a 12-month high of $41.14. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted 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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last 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 declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders 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 dividend on an annualized basis and a yield of 5.3%. Rogers Communication’s payout ratio is 15.51%.

Institutional Trading of Rogers Communication

Several institutional investors have recently made changes to their positions in RCI. Parallel Advisors LLC grew its position in Rogers Communication by 10.2% in the 1st quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock worth $130,000 after purchasing an additional 312 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Rogers Communication by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock worth $203,000 after acquiring an additional 334 shares during the period. Monarch Capital Management Inc. increased its holdings in Rogers Communication by 0.6% in the 1st quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock worth $2,299,000 after acquiring an additional 360 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Rogers Communication by 107.4% in the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after acquiring an additional 407 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Rogers Communication by 15.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider’s stock valued at $119,000 after acquiring an additional 418 shares during the period. 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.