Brokerages Set Rogers Communication, Inc. (NYSE:RCI) Price Target at $36.00

Rogers Communication, Inc. (NYSE:RCIGet Free Report) (TSE:RCI.B) has been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $36.00.

A number of research analysts recently commented on RCI shares. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, June 17th. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a report on Thursday, April 23rd.

Get Our Latest Stock Analysis on Rogers Communication

Institutional Trading of Rogers Communication

Institutional investors and hedge funds have recently modified their holdings of the business. Manchester Capital Management LLC bought a new position in Rogers Communication in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC grew its holdings in shares of Rogers Communication by 107.4% during the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 407 shares during the last quarter. Headlands Technologies LLC increased its position in Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Rogers Communication during the 3rd quarter worth approximately $58,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 683 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Trading Down 1.0%

Shares of RCI stock opened at $32.17 on Thursday. The stock has a 50 day simple moving average of $36.65 and a 200 day simple moving average of $37.05. Rogers Communication has a 1 year low of $30.06 and a 1 year high of $41.14. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a market cap of $17.38 billion, a P/E ratio of 3.39, a price-to-earnings-growth ratio of 2.92 and a beta of 0.64.

Rogers Communication (NYSE:RCIGet Free Report) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. On average, research analysts predict that Rogers Communication will post 3.47 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 6.2%. Rogers Communication’s dividend payout ratio is presently 15.30%.

Rogers Communication Company Profile

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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.

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Analyst Recommendations for Rogers Communication (NYSE:RCI)

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