Analysts Set Rogers Communications Inc. (NYSE:RCI) PT at $61.75

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B has earned a consensus recommendation of "Moderate Buy" from the six analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $61.75.

Several brokerages have recently commented on RCI. StockNews.com upgraded Rogers Communications from a "sell" rating to a "hold" rating in a research note on Thursday, July 11th. BMO Capital Markets boosted their price objective on Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. Canaccord Genuity Group lowered Rogers Communications from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. TD Securities lifted their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th.

Rogers Communications Trading Down 0.7 %

RCI traded down $0.24 during trading on Friday, hitting $36.08. The company's stock had a trading volume of 508,470 shares, compared to its average volume of 727,959. The firm has a market capitalization of $19.22 billion, a P/E ratio of 17.60, a PEG ratio of 1.14 and a beta of 0.67. Rogers Communications has a twelve month low of $35.55 and a twelve month high of $48.19. The stock's fifty day moving average price is $39.37 and its 200-day moving average price is $38.80. 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 - Get Free Report) TSE: RCI.B last released its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.35. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. Rogers Communications's quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. Analysts anticipate that Rogers Communications will post 3.55 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications's payout ratio is currently 72.20%.

Hedge Funds Weigh In On Rogers Communications

Several large investors have recently bought and sold shares of RCI. Cromwell Holdings LLC purchased a new stake in shares of Rogers Communications in the third quarter valued at about $31,000. Ridgewood Investments LLC purchased a new stake in Rogers Communications in the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider's stock worth $37,000 after buying an additional 522 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Rogers Communications in the 1st quarter worth approximately $42,000. Finally, Grove Bank & Trust grew its holdings in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 302 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

About Rogers Communications

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.