Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have received a consensus recommendation of “Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $57.29.
RCI has been the topic of a number of recent research reports. BidaskClub raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research raised Rogers Communication from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Monday, September 25th. Finally, Morgan Stanley lifted their price target on Rogers Communication from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, August 25th.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning raised its holdings in shares of Rogers Communication by 7.8% during the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock valued at $113,000 after buying an additional 173 shares during the last quarter. US Bancorp DE raised its holdings in shares of Rogers Communication by 8.8% during the first quarter. US Bancorp DE now owns 3,429 shares of the Wireless communications provider’s stock valued at $152,000 after buying an additional 278 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of Rogers Communication during the second quarter valued at approximately $203,000. Institute for Wealth Management LLC. bought a new stake in shares of Rogers Communication during the second quarter valued at approximately $271,000. Finally, Paloma Partners Management Co bought a new stake in shares of Rogers Communication during the first quarter valued at approximately $288,000. 47.43% of the stock is currently owned by institutional investors.
Rogers Communication (NYSE:RCI) traded down 0.31% during trading on Wednesday, reaching $51.67. The company’s stock had a trading volume of 85,349 shares. The stock has a market capitalization of $26.60 billion, a price-to-earnings ratio of 31.24 and a beta of 0.86. Rogers Communication has a 52 week low of $37.03 and a 52 week high of $53.55. The firm has a 50 day moving average of $51.92 and a 200 day moving average of $48.41.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. Rogers Communication had a net margin of 7.42% and a return on equity of 28.90%. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the company posted $0.83 earnings per share. Rogers Communication’s revenue was up 4.0% on a year-over-year basis. Analysts expect that Rogers Communication will post $2.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.72%. Rogers Communication’s dividend payout ratio (DPR) is presently 104.05%.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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