Rogers Communication Inc. (NYSE:RCI) has been assigned a $40.00 price target by equities researchers at Barclays PLC in a report issued on Friday. The brokerage currently has a a “hold” rating on the stock.
Several other research analysts have also weighed in on RCI. Canaccord Genuity reissued a “hold” rating on shares of Rogers Communication in a research report on Friday, June 17th. Zacks Investment Research downgraded Rogers Communication from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Bank of America Corp. assumed coverage on Rogers Communication in a research note on Tuesday, July 5th. They issued a “neutral” rating on the stock. TD Securities restated a “buy” rating and issued a $58.00 target price on shares of Rogers Communication in a research note on Wednesday, July 6th. Finally, TheStreet upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of C$50.00.
Shares of Rogers Communication (NYSE:RCI) opened at 41.29 on Friday. The firm’s 50-day moving average price is $42.23 and its 200 day moving average price is $40.91. Rogers Communication has a 12-month low of $32.50 and a 12-month high of $45.50. The stock has a market capitalization of $21.25 billion, a P/E ratio of 20.06 and a beta of 0.87.
Rogers Communication (NYSE:RCI) last posted its quarterly earnings results on Monday, October 17th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.03. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.45 billion. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. Analysts predict that Rogers Communication will post $2.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Wednesday, September 7th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. Rogers Communication’s payout ratio is currently 71.36%.
Several institutional investors have recently bought and sold shares of RCI. AMP Capital Investors Ltd boosted its position in Rogers Communication by 1.7% in the first quarter. AMP Capital Investors Ltd now owns 160,760 shares of the company’s stock valued at $6,485,000 after buying an additional 2,674 shares in the last quarter. Renaissance Technologies LLC boosted its position in Rogers Communication by 34.4% in the first quarter. Renaissance Technologies LLC now owns 537,500 shares of the company’s stock valued at $21,519,000 after buying an additional 137,700 shares in the last quarter. Prudential PLC boosted its position in Rogers Communication by 44.5% in the first quarter. Prudential PLC now owns 25,000 shares of the company’s stock valued at $1,001,000 after buying an additional 7,700 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its position in Rogers Communication by 23.5% in the first quarter. PCJ Investment Counsel Ltd. now owns 507,416 shares of the company’s stock valued at $20,399,000 after buying an additional 96,596 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in Rogers Communication by 137.5% in the first quarter. Quadrature Capital Ltd now owns 20,900 shares of the company’s stock valued at $835,000 after buying an additional 12,100 shares in the last quarter. 49.28% of the stock is owned by institutional investors and hedge funds.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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