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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $61.75.

Several research analysts have recently commented on RCI shares. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Morgan Stanley began coverage on Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Finally, Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th.

Institutional Trading of Rogers Communications

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in Rogers Communications by 371.0% during 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. Charles Schwab Investment Management Inc. raised its stake in Rogers Communications by 106.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock valued at $5,383,000 after acquiring an additional 68,971 shares in the last quarter. Avanza Fonder AB bought a new stake in Rogers Communications during the 4th quarter valued at $718,000. MQS Management LLC acquired a new position in shares of Rogers Communications during the 3rd quarter valued at $726,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Rogers Communications by 1,046.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after purchasing an additional 547,201 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Price Performance

Shares of RCI opened at $27.76 on Monday. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.37 and a beta of 0.68. The stock has a 50 day moving average of $30.19 and a 200-day moving average of $35.60. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. Rogers Communications has a 52 week low of $26.57 and a 52 week high of $45.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. As a group, analysts forecast that Rogers Communications will post 3.58 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be paid a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 5.00%. The ex-dividend date is Monday, March 10th. Rogers Communications’s payout ratio is currently 60.78%.

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.