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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $61.75.

A number of research firms have recently issued reports on RCI. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, TD Securities lifted 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 Price Performance

NYSE:RCI opened at $36.08 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The firm has a fifty day simple moving average of $39.37 and a 200 day simple moving average of $38.79. Rogers Communications has a 1-year low of $35.55 and a 1-year high of $48.19. The stock has a market capitalization of $19.22 billion, a PE ratio of 17.60, a P/E/G ratio of 1.14 and a beta of 0.67.

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 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 for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the business earned $0.95 EPS. Rogers Communications’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts expect that Rogers Communications will post 3.55 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s dividend payout ratio is presently 72.20%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank increased its holdings in Rogers Communications by 53.9% in the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after purchasing an additional 2,206,690 shares during the period. Intech Investment Management LLC bought a new position in shares of Rogers Communications in the first quarter valued at approximately $835,000. Russell Investments Group Ltd. grew its stake in Rogers Communications by 8.6% in the 1st quarter. Russell Investments Group Ltd. now owns 195,754 shares of the Wireless communications provider’s stock valued at $8,040,000 after purchasing an additional 15,454 shares during the period. Canoe Financial LP grew its position in shares of Rogers Communications by 14.4% during the 3rd quarter. Canoe Financial LP now owns 1,133,087 shares of the Wireless communications provider’s stock valued at $45,624,000 after acquiring an additional 142,224 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Rogers Communications by 42.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 444,990 shares of the Wireless communications provider’s stock valued at $18,262,000 after purchasing an additional 133,652 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.