Rogers Communication, Inc. (RCI) – What Are Brokerages Thinking About This Stock?

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $36.00.

Several research firms have recently commented on RCI. Wall Street Zen cut shares of Rogers Communication from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Raymond James Financial began coverage on Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Barclays dropped their price objective on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday.

Rogers Communication Stock Performance

Rogers Communication stock opened at $29.72 on Friday. The stock has a 50-day simple moving average of $34.66 and a 200 day simple moving average of $35.27. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 3.59, a P/E/G ratio of 3.90 and a beta of 0.65. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. Rogers Communication has a 12-month low of $29.25 and a 12-month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The firm 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 in the prior year, the firm earned $1.14 EPS. On average, research analysts anticipate that Rogers Communication will post 3.24 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 8th were issued a C$0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.7%. The ex-dividend date was Tuesday, September 8th. Rogers Communication’s dividend payout ratio is currently 17.39%.

Hedge Funds Weigh In On Rogers Communication

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fiera Capital Corp increased its stake in Rogers Communication by 8,881.3% in the fourth quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after purchasing an additional 7,116,744 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Rogers Communication by 98.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock worth $77,871,000 after purchasing an additional 1,004,963 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Rogers Communication by 7.6% in the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock valued at $241,467,000 after buying an additional 445,964 shares during the period. Swiss National Bank grew its holdings in shares of Rogers Communication by 27.0% in the 1st quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock valued at $47,146,000 after buying an additional 261,000 shares during the period. Finally, Natixis Advisors LLC increased its position in shares of Rogers Communication by 757.7% in the 4th quarter. Natixis Advisors LLC now owns 292,686 shares of the Wireless communications provider’s stock valued at $11,043,000 after buying an additional 258,562 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers’ telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.