Rogers Communications Inc. (NYSE:RCI) Receives $61.75 Consensus Price Target from Analysts

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $61.75.

A number of research firms have commented on RCI. Morgan Stanley initiated coverage on Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating on the stock. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th.

Institutional Investors Weigh In On Rogers Communications

A number of hedge funds have recently added to or reduced their stakes in RCI. Polar Asset Management Partners Inc. increased its stake in shares of Rogers Communications by 239.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider’s stock valued at $1,306,000 after purchasing an additional 29,982 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Rogers Communications by 280.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider’s stock worth $7,428,000 after buying an additional 178,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Rogers Communications by 7.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 749,464 shares of the Wireless communications provider’s stock valued at $23,031,000 after acquiring an additional 53,208 shares during the period. Twinbeech Capital LP raised its stake in Rogers Communications by 235.5% during the 4th quarter. Twinbeech Capital LP now owns 28,844 shares of the Wireless communications provider’s stock valued at $886,000 after acquiring an additional 20,246 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Rogers Communications by 198.3% during the 4th quarter. Tidal Investments LLC now owns 18,431 shares of the Wireless communications provider’s stock worth $566,000 after acquiring an additional 12,253 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Trading Up 0.2 %

NYSE RCI opened at $28.09 on Friday. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications has a 12 month low of $26.57 and a 12 month high of $44.27. The company’s fifty day moving average price is $28.47 and its two-hundred day moving average price is $34.01.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, research analysts predict that Rogers Communications will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be paid a dividend of $0.347 per share. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 4.94%. Rogers Communications’s payout ratio is currently 59.48%.

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.