Rogers Communications Inc. (NYSE:RCI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have received a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $61.75.

Several brokerages have recently issued reports on RCI. TD Securities lifted their target price on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets raised their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th.

Institutional Trading of Rogers Communications

Institutional investors have recently bought and sold shares of the stock. Grove Bank & Trust raised its stake in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 302 shares during the period. Creative Planning grew its holdings in Rogers Communications by 2.2% during the 3rd quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider’s stock valued at $896,000 after purchasing an additional 486 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 522 shares during the period. Verition Fund Management LLC boosted its holdings in Rogers Communications by 7.9% during the 3rd quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after acquiring an additional 551 shares during the period. Finally, First Affirmative Financial Network grew its position in Rogers Communications by 11.2% in the 2nd quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider’s stock valued at $239,000 after acquiring an additional 649 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Down 1.4 %

Shares of RCI opened at $35.39 on Wednesday. The business’s 50 day moving average is $37.78 and its 200 day moving average is $38.50. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. Rogers Communications has a 12-month low of $34.95 and a 12-month high of $48.19. The company has a market capitalization of $18.85 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.09 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Research analysts expect that Rogers Communications will post 3.55 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is 71.71%.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.