Rogers Communication, Inc. (NYSE:RCI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been given an average rating of “Hold” by the ten brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $36.00.

A number of analysts have issued reports on the company. Desjardins downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Wall Street Zen downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley reissued an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Scotiabank reissued a “sector perform” rating on shares of Rogers Communication in a report on Monday, January 12th. Finally, TD Securities restated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th.

Rogers Communication Trading Up 1.0%

Shares of NYSE:RCI opened at $38.97 on Friday. The company has a market cap of $21.05 billion, a P/E ratio of 4.21, a PEG ratio of 5.11 and a beta of 0.74. The stock’s fifty day moving average price is $37.22 and its 200-day moving average price is $36.88. Rogers Communication has a 1 year low of $23.18 and a 1 year high of $40.26. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. Sell-side analysts expect that Rogers Communication will post 3.57 earnings per share for the current year.

Rogers Communication Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is 15.46%.

Institutional Trading of Rogers Communication

Hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC acquired a new stake in shares of Rogers Communication in the fourth quarter valued at approximately $515,000. Mercer Global Advisors Inc. ADV purchased a new position in Rogers Communication during the fourth quarter worth $211,000. State of Tennessee Department of Treasury raised its position in shares of Rogers Communication by 2.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 209,385 shares of the Wireless communications provider’s stock valued at $7,948,000 after buying an additional 4,331 shares during the last quarter. XTX Topco Ltd lifted its position in Rogers Communication by 53.7% during the fourth quarter. XTX Topco Ltd now owns 49,230 shares of the Wireless communications provider’s stock worth $1,857,000 after buying an additional 17,202 shares during the period. Finally, Guardian Capital LP boosted its holdings in shares of Rogers Communication by 0.6% in the 4th quarter. Guardian Capital LP now owns 627,572 shares of the Wireless communications provider’s stock valued at $23,700,000 after purchasing an additional 4,027 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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.