Brokerages Set Rogers Communication, Inc. (NYSE:RCI) Price Target at $36.00

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $36.00.

A number of research analysts have recently commented on RCI shares. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Barclays reaffirmed a “positive” rating and set a $37.00 price target on shares of Rogers Communication in a research report on Tuesday, January 27th. Finally, TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd.

Rogers Communication Stock Performance

NYSE:RCI opened at $36.92 on Wednesday. Rogers Communication has a 1 year low of $24.80 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.53. The business has a fifty day simple moving average of $37.12 and a two-hundred day simple moving average of $37.42. The company has a market capitalization of $19.94 billion, a P/E ratio of 3.89, a P/E/G ratio of 3.24 and a beta of 0.61.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Rogers Communication will post 3.55 earnings per share for the current year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is currently 15.51%.

Institutional Trading of Rogers Communication

Institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC purchased a new stake in Rogers Communication during the 4th quarter worth about $26,000. Farther Finance Advisors LLC lifted its holdings in Rogers Communication by 107.4% during the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 407 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Rogers Communication during the 3rd quarter worth about $58,000. Finally, Advisory Services Network LLC purchased a new stake in Rogers Communication during the 3rd quarter worth about $63,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.