Rogers Communications Inc. (NYSE:RCI) Receives Consensus Rating of “Moderate Buy” from Analysts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $61.75.

A number of research analysts have recently issued reports on RCI shares. BMO Capital Markets lifted their price target on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. TD Securities boosted their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th.

Rogers Communications Trading Down 1.4 %

RCI opened at $35.39 on Wednesday. Rogers Communications has a 52 week low of $34.95 and a 52 week high of $48.19. The company has a market capitalization of $18.85 billion, a P/E ratio of 17.26, a PEG ratio of 1.09 and a beta of 0.69. The stock’s fifty day moving average is $37.78 and its two-hundred day moving average is $38.50. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts forecast that Rogers Communications will post 3.55 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 71.71%.

Institutional Investors Weigh In On Rogers Communications

Several institutional investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. raised its position in shares of Rogers Communications by 2.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock valued at $425,341,000 after purchasing an additional 288,614 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Rogers Communications by 10.2% in the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after buying an additional 974,937 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of 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 buying an additional 2,206,690 shares during the period. National Bank of Canada FI grew its holdings in shares of Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after buying an additional 977,924 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after acquiring an additional 3,980,525 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

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.