Rogers Communications Inc. (NYSE:RCI) Given Average Recommendation of “Hold” by Analysts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has received an average rating of “Hold” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $61.75.

RCI has been the topic of a number of research reports. BMO Capital Markets raised their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. TD Securities raised their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company.

Institutional Investors Weigh In On Rogers Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after buying an additional 3,980,525 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Rogers Communications by 106.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock worth $5,383,000 after acquiring an additional 68,971 shares during the period. MQS Management LLC acquired a new position in shares of Rogers Communications during the 3rd quarter valued at about $726,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Rogers Communications by 1,046.8% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after purchasing an additional 547,201 shares during the period. Finally, Toronto Dominion Bank increased its position in Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after purchasing an additional 2,206,690 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Trading Down 0.9 %

Shares of RCI stock opened at $30.36 on Friday. Rogers Communications has a 1-year low of $30.06 and a 1-year high of $48.19. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.06 and a beta of 0.67. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. The stock has a 50 day simple moving average of $35.03 and a 200-day simple moving average of $37.51.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts expect that Rogers Communications will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 71.71%.

Rogers Communications Company Profile

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.