Rogers Communications’ (RCI) “Hold” Rating Reaffirmed at CIBC

CIBC reaffirmed their hold rating on shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) in a research report sent to investors on Thursday morning, AnalystRatings.com reports. The firm currently has a $68.00 target price on the Wireless communications provider’s stock.

RCI has been the topic of a number of other research reports. TD Securities upgraded Rogers Communications to a buy rating in a research report on Monday, October 21st. Royal Bank of Canada upgraded Rogers Communications from a sector perform rating to an outperform rating and set a $70.00 price objective on the stock in a research report on Thursday, October 24th. Canaccord Genuity reiterated a hold rating and issued a $66.00 price objective on shares of Rogers Communications in a research report on Thursday. Finally, ValuEngine upgraded Rogers Communications from a sell rating to a hold rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Rogers Communications currently has a consensus rating of Hold and a consensus target price of $65.01.

Shares of RCI stock traded down $0.54 on Thursday, reaching $50.30. The company’s stock had a trading volume of 416,531 shares, compared to its average volume of 444,699. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 1.69. Rogers Communications has a 12-month low of $45.94 and a 12-month high of $55.93. The company has a market capitalization of $25.90 billion, a P/E ratio of 16.77, a PEG ratio of 3.69 and a beta of 0.50. The stock’s 50 day simple moving average is $49.27 and its 200-day simple moving average is $49.75.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, January 22nd. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.22. Rogers Communications had a return on equity of 24.00% and a net margin of 13.55%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the business posted $1.13 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. Research analysts expect that Rogers Communications will post 3.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be issued a $0.385 dividend. This is a boost from Rogers Communications’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, March 9th. Rogers Communications’s dividend payout ratio is presently 48.24%.

Institutional investors have recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of Rogers Communications by 68.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the Wireless communications provider’s stock valued at $33,000 after buying an additional 272 shares in the last quarter. Allred Capital Management LLC purchased a new position in shares of Rogers Communications during the 4th quarter valued at about $39,000. Willingdon Wealth Management raised its holdings in shares of Rogers Communications by 23.4% during the 3rd quarter. Willingdon Wealth Management now owns 1,549 shares of the Wireless communications provider’s stock valued at $75,000 after buying an additional 294 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Rogers Communications during the 2nd quarter valued at about $261,000. Finally, Symmetry Partners LLC purchased a new position in shares of Rogers Communications during the 3rd quarter valued at about $253,000. Hedge funds and other institutional investors own 43.69% of the company’s stock.

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 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.

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Analyst Recommendations for Rogers Communications (NYSE:RCI)

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