Rogers Communications Inc. (NYSE:RCI) Receives $67.00 Average Target Price from Analysts

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B has earned a consensus rating of "Hold" from the eight research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $67.00.

Several research analysts recently commented on the company. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Finally, Scotiabank lowered shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st.

Rogers Communications Trading Up 0.7 %

RCI stock traded up $0.19 during trading on Friday, reaching $25.68. 931,271 shares of the stock were exchanged, compared to its average volume of 1,012,044. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The firm has a market capitalization of $13.77 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.43 and a beta of 0.67. The business has a 50 day moving average price of $26.63 and a 200-day moving average price of $30.54. Rogers Communications has a 1 year low of $23.18 and a 1 year high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same period last year, the business earned $0.99 EPS. The company's quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that Rogers Communications will post 3.57 earnings per share for the current year.

Rogers Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be paid a $0.3611 dividend. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Monday, June 9th. Rogers Communications's dividend payout ratio (DPR) is 59.66%.

Institutional Investors Weigh In On Rogers Communications

A number of institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC grew its holdings in Rogers Communications by 95.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock worth $47,000 after acquiring an additional 744 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock valued at $55,000 after purchasing an additional 1,052 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Rogers Communications in the first quarter valued at about $79,000. TD Private Client Wealth LLC grew its position in Rogers Communications by 263.1% during the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock worth $137,000 after buying an additional 3,718 shares during the period. Finally, Headlands Technologies LLC increased its holdings in Rogers Communications by 274.2% in the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after buying an additional 3,888 shares in the last quarter. Hedge funds and other institutional investors 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.