Rogers Communication, Inc. (NYSE:RCI) Stock Has Average Price Target of $35.00 According to Brokerages

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $35.00.

A number of analysts have issued reports on the company. Barclays decreased their target price on Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. TD Securities reissued a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, October 20th. Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Finally, Raymond James Financial started coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company.

Hedge Funds Weigh In On Rogers Communication

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in shares of Rogers Communication by 10.2% during the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock valued at $130,000 after buying an additional 312 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Rogers Communication by 15.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider’s stock worth $119,000 after purchasing an additional 418 shares during the period. Versant Capital Management Inc lifted its holdings in Rogers Communication by 8.2% in the third quarter. Versant Capital Management Inc now owns 6,326 shares of the Wireless communications provider’s stock worth $195,000 after buying an additional 480 shares during the period. Squarepoint Ops LLC boosted its position in shares of Rogers Communication by 2.5% during the second quarter. Squarepoint Ops LLC now owns 21,669 shares of the Wireless communications provider’s stock valued at $704,000 after purchasing an additional 524 shares in the last quarter. Finally, Cidel Asset Management Inc. increased its stake in shares of Rogers Communication by 5.2% in the 3rd quarter. Cidel Asset Management Inc. now owns 17,558 shares of the Wireless communications provider’s stock worth $542,000 after acquiring an additional 865 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Price Performance

Rogers Communication stock opened at $32.55 on Wednesday. Rogers Communication has a 52-week low of $29.25 and a 52-week high of $41.14. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.64 and a current ratio of 0.67. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 3.73 and a beta of 0.66. The stock’s 50 day moving average price is $33.55 and its two-hundred day moving average price is $35.67.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Friday, October 23rd. The Wireless communications provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communication had a return on equity of 11.51% and a net margin of 4.11%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. On average, equities analysts predict that Rogers Communication will post 3.57 earnings per share for the current year.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 8th will be paid a dividend of C$0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Tuesday, December 8th. Rogers Communication’s payout ratio is presently 120.00%.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.