Rogers Communication, Inc. (NYSE:RCI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $36.00.

RCI has been the subject of a number of research analyst reports. Raymond James Financial initiated coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Weiss Ratings upgraded shares of Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. Wall Street Zen raised shares of Rogers Communication from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. TD Securities restated a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Finally, Desjardins restated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd.

Institutional Investors Weigh In On Rogers Communication

Several large investors have recently made changes to their positions in RCI. Parallel Advisors LLC raised its stake in Rogers Communication by 10.2% in the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock worth $130,000 after buying an additional 312 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Rogers Communication by 6.0% in 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 during the period. Monarch Capital Management Inc. increased its holdings in shares of Rogers Communication by 0.6% in the 1st quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock valued at $2,299,000 after acquiring an additional 360 shares during the period. Farther Finance Advisors LLC raised its position in shares of Rogers Communication by 107.4% in the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock worth $30,000 after acquiring an additional 407 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Rogers Communication by 15.5% in the 1st 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. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Price Performance

RCI stock opened at $36.33 on Friday. The business’s fifty day moving average price is $34.64 and its 200 day moving average price is $36.35. Rogers Communication has a 12-month low of $31.38 and a 12-month high of $41.14. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $19.63 billion, a PE ratio of 4.39, a P/E/G ratio of 4.55 and a beta of 0.64.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the business posted $1.14 EPS. Rogers Communication’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that Rogers Communication will post 3.27 EPS for the current year.

Rogers Communication Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 8th. Rogers Communication’s dividend payout ratio is 17.51%.

About Rogers Communication

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.