Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been given a consensus recommendation of “Hold” by the eleven research firms that are covering the stock. Six analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $49.50.
Several research analysts have recently commented on RCI shares. Canaccord Genuity raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 26th. Zacks Investment Research raised shares of Rogers Communications from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a report on Monday, January 30th. Finally, Royal Bank of Canada cut shares of Rogers Communications from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $56.00 to $55.00 in a research note on Monday, January 9th.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp boosted its position in shares of Rogers Communications by 4.3% in the second quarter. Stifel Financial Corp now owns 5,997 shares of the company’s stock worth $244,000 after buying an additional 248 shares during the period. Hillsdale Investment Management Inc. boosted its position in shares of Rogers Communications by 8.7% in the second quarter. Hillsdale Investment Management Inc. now owns 259,420 shares of the company’s stock worth $10,489,000 after buying an additional 20,850 shares during the period. Blue Chip Partners Inc. boosted its position in shares of Rogers Communications by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the company’s stock worth $165,000 after buying an additional 35 shares during the period. Tobam boosted its position in shares of Rogers Communications by 7.4% in the second quarter. Tobam now owns 268,000 shares of the company’s stock worth $10,793,000 after buying an additional 18,500 shares during the period. Finally, Monarch Capital Management Inc. boosted its position in shares of Rogers Communications by 1.4% in the third quarter. Monarch Capital Management Inc. now owns 21,800 shares of the company’s stock worth $925,000 after buying an additional 300 shares during the period. 50.95% of the stock is currently owned by institutional investors and hedge funds.
Rogers Communications (NYSE:RCI) opened at 41.92 on Tuesday. The firm’s 50-day moving average price is $42.73 and its 200 day moving average price is $40.82. Rogers Communications has a 12-month low of $37.03 and a 12-month high of $45.50. The firm has a market cap of $21.58 billion, a P/E ratio of 34.90 and a beta of 0.96.
Rogers Communications (NYSE:RCI) last announced its earnings results on Thursday, January 26th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.20. Rogers Communications had a net margin of 6.26% and a return on equity of 25.46%. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts forecast that Rogers Communications will post $2.40 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be paid a $0.48 dividend. The ex-dividend date is Thursday, March 9th. This represents a $1.92 dividend on an annualized basis and a yield of 4.58%. Rogers Communications’s dividend payout ratio (DPR) is 116.26%.
About Rogers Communications
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.
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