Shares of Rogers Communication, Inc. (NYSE:RCI – Get Free Report) (TSE:RCI.B) have been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $36.00.
Several research firms recently issued reports on RCI. Barclays cut their target price on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 16th. Weiss Ratings upgraded Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research report on Thursday, July 23rd. Wall Street Zen raised Rogers Communication from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Scotiabank restated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th.
Read Our Latest Report on Rogers Communication
Rogers Communication Trading Down 1.0%
Rogers Communication (NYSE:RCI – Get Free Report) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. On average, research analysts predict that Rogers Communication will post 3.29 earnings per share for the current year.
Rogers Communication Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is currently 17.39%.
Institutional Investors Weigh In On Rogers Communication
A number of large investors have recently modified their holdings of RCI. Parallel Advisors LLC increased its holdings in shares of Rogers Communication by 10.2% in the 1st quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock valued at $130,000 after purchasing an additional 312 shares during the period. Van ECK Associates Corp grew its holdings 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 valued at $203,000 after acquiring an additional 334 shares in the last quarter. Monarch Capital Management Inc. increased its stake in shares of Rogers Communication by 0.6% in the first 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. EverSource Wealth Advisors LLC raised its holdings in shares of Rogers Communication by 15.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider’s stock worth $119,000 after acquiring an additional 418 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of Rogers Communication by 6.5% during the fourth quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the Wireless communications provider’s stock worth $297,000 after acquiring an additional 479 shares in the last quarter. Institutional investors own 45.49% of the company’s stock.
About Rogers Communication
Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.
Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.
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