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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $61.75.

A number of equities research analysts have commented on RCI shares. TD Securities raised their price target 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. BMO Capital Markets raised their target price on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after acquiring an additional 3,980,525 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of 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 worth $233,099,000 after purchasing an additional 2,206,690 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Rogers Communications by 90.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after purchasing an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Rogers Communications by 86.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock valued at $104,965,000 after acquiring an additional 1,211,482 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after purchasing an additional 977,924 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Trading Up 0.6 %

NYSE RCI opened at $35.74 on Wednesday. The stock has a market capitalization of $19.10 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.10 and a beta of 0.69. The business has a 50 day simple moving average of $37.52 and a 200 day simple moving average of $38.42. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. Rogers Communications has a one year low of $34.95 and a one year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.07 by $0.35. The company had revenue of $5.13 billion during 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%. During the same quarter last year, the firm posted $0.95 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. Research analysts expect that Rogers Communications will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.04%. Rogers Communications’s payout ratio is 72.20%.

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.