Rogers Communication, Inc. (NYSE:RCI) Receives Average Rating of “Hold” from Brokerages

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has received an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $36.00.

Several research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Rogers Communication in a research report on Wednesday, June 17th. Desjardins restated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. TD Securities cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Scotiabank upgraded shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd.

Rogers Communication Price Performance

RCI opened at $34.05 on Thursday. The firm has a market cap of $18.39 billion, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 3.13 and a beta of 0.62. Rogers Communication has a fifty-two week low of $29.11 and a fifty-two week high of $41.14. The company’s 50-day moving average price is $36.69 and its 200 day moving average price is $37.10. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. Rogers Communication’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, sell-side analysts expect that Rogers Communication will post 3.47 earnings per share for the current year.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.9%. Rogers Communication’s dividend payout ratio (DPR) is 15.30%.

Hedge Funds Weigh In On Rogers Communication

Several hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC acquired a new position in shares of Rogers Communication in the 1st quarter worth approximately $483,000. JTC Employer Solutions Trustee Ltd grew its stake in shares of Rogers Communication by 1.0% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 107,208 shares of the Wireless communications provider’s stock worth $4,107,000 after purchasing an additional 1,025 shares during the last quarter. Guardian Partners Inc. grew its stake in shares of Rogers Communication by 0.6% in the 1st quarter. Guardian Partners Inc. now owns 371,138 shares of the Wireless communications provider’s stock worth $14,270,000 after purchasing an additional 2,285 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Rogers Communication by 13.5% in the 1st quarter. Quantinno Capital Management LP now owns 120,886 shares of the Wireless communications provider’s stock worth $4,648,000 after purchasing an additional 14,370 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Company Profile

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.