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

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have received an average recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $61.75.

A number of research analysts have issued reports on the company. Scotiabank cut Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday. Morgan Stanley initiated coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its stake in shares of Rogers Communications by 123.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock worth $206,565,000 after purchasing an additional 3,717,487 shares during the last quarter. FIL Ltd raised its stake in Rogers Communications by 7.2% during the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock worth $1,028,336,000 after buying an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia grew its holdings in Rogers Communications by 20.6% during the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider’s stock worth $237,784,000 after acquiring an additional 1,320,200 shares during the period. Letko Brosseau & Associates Inc. boosted its position in shares of Rogers Communications by 23.5% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider’s stock valued at $160,094,000 after purchasing an additional 992,780 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in 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 worth $250,886,000 after purchasing an additional 977,924 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Shares of NYSE:RCI opened at $26.06 on Tuesday. Rogers Communications has a twelve month low of $24.76 and a twelve month high of $41.84. The business has a fifty day moving average of $27.78 and a 200-day moving average of $32.53. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a market cap of $13.97 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. On average, equities research analysts predict that Rogers Communications will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were paid a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Monday, March 10th. Rogers Communications’s payout ratio is 59.48%.

About Rogers Communications

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.