Rogers Communication, Inc. (NYSE:RCI) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has been given an average rating of “Moderate Buy” by the nine brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $36.00.

Several equities analysts recently commented on RCI shares. Weiss Ratings raised Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. Raymond James Financial started coverage on Rogers Communication in a report on Wednesday, July 15th. They set an “outperform” rating for the company. Desjardins raised Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Finally, Wall Street Zen cut Rogers Communication from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd.

Rogers Communication Stock Up 0.4%

Shares of Rogers Communication stock opened at $30.68 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. Rogers Communication has a 52-week low of $30.02 and a 52-week high of $41.14. The company has a market capitalization of $16.58 billion, a P/E ratio of 3.71, a P/E/G ratio of 3.84 and a beta of 0.65. The company has a 50 day moving average of $34.81 and a 200 day moving average of $35.36.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. As a group, research analysts forecast that Rogers Communication will post 3.24 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th were issued a dividend of C$0.50 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 6.5%. Rogers Communication’s dividend payout ratio (DPR) is presently 17.39%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Rogers Communication by 277.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider’s stock worth $12,208,000 after purchasing an additional 233,449 shares during the last quarter. Nykredit A S acquired a new stake in shares of Rogers Communication during the second quarter worth about $1,847,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Rogers Communication by 4.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider’s stock valued at $38,117,000 after purchasing an additional 39,638 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Rogers Communication in the 2nd quarter valued at about $1,395,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Rogers Communication by 30.7% in the 1st quarter. Bank of New York Mellon Corp now owns 426,113 shares of the Wireless communications provider’s stock valued at $16,384,000 after purchasing an additional 100,162 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers’ telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.