Rogers Communications Inc. (NYSE:RCI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $67.00.

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. Scotiabank downgraded Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th.

Institutional Investors Weigh In On Rogers Communications

A number of institutional investors have recently added to or reduced their stakes in RCI. Crossmark Global Holdings Inc. boosted its position in shares of Rogers Communications by 1.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock worth $725,000 after acquiring an additional 379 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Rogers Communications by 4.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock valued at $436,000 after purchasing an additional 571 shares during the last quarter. Waldron Private Wealth LLC increased its holdings in shares of Rogers Communications by 3.1% in the fourth quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock worth $682,000 after purchasing an additional 660 shares during the last quarter. State Street Corp increased its holdings in shares of Rogers Communications by 0.5% in the third quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock worth $5,550,000 after purchasing an additional 661 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in shares of Rogers Communications by 0.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 218,308 shares of the Wireless communications provider’s stock worth $6,708,000 after buying an additional 720 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

Shares of RCI opened at $25.15 on Friday. Rogers Communications has a one year low of $23.18 and a one year high of $41.84. The business has a fifty day moving average of $26.68 and a 200 day moving average of $30.73. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a market capitalization of $13.48 billion, a P/E ratio of 10.84, a PEG ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, sell-side analysts anticipate that Rogers Communications will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a yield of 5.74%. The ex-dividend date is Monday, June 9th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.35. Rogers Communications’s dividend payout ratio (DPR) is 59.48%.

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.