Brokerages Set Rogers Communications Inc. (RCI) PT at $56.43

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned an average rating of “Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $56.43.

Several research analysts have recently commented on RCI shares. Zacks Investment Research lowered Rogers Communications from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Morgan Stanley lifted their price target on Rogers Communications from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, August 25th. Finally, BidaskClub upgraded Rogers Communications from a “hold” rating to a “buy” rating in a report on Thursday, June 15th.

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Shares of Rogers Communications (NYSE:RCI) traded up 0.19% during midday trading on Friday, hitting $53.27. 390,949 shares of the stock traded hands. The stock has a market cap of $27.42 billion, a price-to-earnings ratio of 33.61 and a beta of 0.86. Rogers Communications has a 12-month low of $37.03 and a 12-month high of $53.55. The company’s 50 day moving average price is $51.67 and its 200-day moving average price is $47.15.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Rogers Communications had a return on equity of 38.33% and a net margin of 14.78%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts expect that Rogers Communications will post $2.82 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.92 annualized dividend and a yield of 3.60%. Rogers Communications’s dividend payout ratio (DPR) is currently 95.95%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Trexquant Investment LP purchased a new stake in Rogers Communications in the 1st quarter valued at about $500,000. Baskin Financial Services Inc. raised its holdings in Rogers Communications by 0.7% in the 2nd quarter. Baskin Financial Services Inc. now owns 316,859 shares of the Wireless communications provider’s stock valued at $14,948,000 after buying an additional 2,330 shares during the period. Westpac Banking Corp raised its holdings in Rogers Communications by 5.4% in the 2nd quarter. Westpac Banking Corp now owns 117,004 shares of the Wireless communications provider’s stock valued at $7,166,000 after buying an additional 6,000 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Rogers Communications in the 1st quarter valued at about $83,685,000. Finally, Highstreet Asset Management Inc. raised its holdings in Rogers Communications by 2.4% in the 1st quarter. Highstreet Asset Management Inc. now owns 32,964 shares of the Wireless communications provider’s stock valued at $1,456,000 after buying an additional 759 shares during the period. Hedge funds and other institutional investors own 47.55% of the company’s stock.

Rogers Communications Company Profile

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

Analyst Recommendations for Rogers Communications (NYSE:RCI)

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