Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $65.00.
A number of research analysts recently issued reports on RCI shares. TheStreet upgraded Rogers Communications from a “c+” rating to a “b” rating in a research note on Thursday, October 19th. Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research note on Monday. Bank of America started coverage on Rogers Communications in a research note on Tuesday, November 21st. They set a “buy” rating for the company. Zacks Investment Research upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Monday, September 25th. Finally, Barclays boosted their price objective on Rogers Communications from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th.
A number of hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in Rogers Communications by 21.2% in the 2nd quarter. FMR LLC now owns 33,392,433 shares of the Wireless communications provider’s stock worth $1,577,180,000 after purchasing an additional 5,832,908 shares during the period. Vanguard Group Inc. boosted its stake in Rogers Communications by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 8,055,432 shares of the Wireless communications provider’s stock worth $380,297,000 after purchasing an additional 256,309 shares during the period. Great West Life Assurance Co. Can boosted its stake in Rogers Communications by 2.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,816,024 shares of the Wireless communications provider’s stock worth $247,773,000 after purchasing an additional 103,687 shares during the period. APG Asset Management N.V. boosted its stake in Rogers Communications by 82.0% in the 3rd quarter. APG Asset Management N.V. now owns 3,061,063 shares of the Wireless communications provider’s stock worth $157,479,000 after purchasing an additional 1,379,400 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Rogers Communications by 5.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,582,482 shares of the Wireless communications provider’s stock worth $132,863,000 after purchasing an additional 132,934 shares during the period. Institutional investors and hedge funds own 47.15% of the company’s stock.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.19). The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.63 billion. Rogers Communications had a net margin of 13.04% and a return on equity of 31.06%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. research analysts predict that Rogers Communications will post 2.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $1.92 annualized dividend and a yield of 3.86%. Rogers Communications’s payout ratio is 78.17%.
TRADEMARK VIOLATION WARNING: “Rogers Communications Inc. (RCI) Receives Consensus Recommendation of “Buy” from Brokerages” was reported by BBNS and is owned by of BBNS. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://baseballnewssource.com/markets/rogers-communications-inc-rci-receives-consensus-recommendation-of-buy-from-brokerages/1826675.html.
Rogers Communications 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.
Receive News & Ratings for Rogers Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communications and related companies with our FREE daily email newsletter.