Rogers Communication, Inc. (NYSE:RCI) Given Consensus Rating of “Hold” by Brokerages

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has received a consensus rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $67.00.

Several research analysts have weighed in on RCI shares. Scotiabank lowered shares of Rogers Communication from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, April 1st. Canaccord Genuity Group raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Friday, April 4th.

Rogers Communication Stock Up 0.7%

Shares of Rogers Communication stock opened at $27.78 on Friday. Rogers Communication has a 1 year low of $23.18 and a 1 year high of $41.84. The company has a market cap of $14.89 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.53 and a beta of 0.73. The company has a current ratio of 1.00, a quick ratio of 0.94 and a debt-to-equity ratio of 3.97. The stock has a 50-day moving average price of $26.12 and a 200 day moving average price of $27.78.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $4.96 billion. Rogers Communication had a net margin of 8.53% and a return on equity of 25.28%. Rogers Communication’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, analysts expect that Rogers Communication will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be paid a $0.3611 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 5.20%. Rogers Communication’s payout ratio is 62.66%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of Rogers Communication by 303.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider’s stock valued at $148,047,000 after purchasing an additional 4,166,861 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Rogers Communication by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock valued at $206,565,000 after buying an additional 3,717,487 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Rogers Communication by 373.1% in the first quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider’s stock worth $76,671,000 after buying an additional 2,263,859 shares during the last quarter. FIL Ltd lifted its position in shares of Rogers Communication by 7.2% in the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock worth $1,028,336,000 after buying an additional 2,244,240 shares during the last quarter. Finally, Value Partners Investments Inc. boosted its stake in shares of Rogers Communication by 1,252.8% during the 1st quarter. Value Partners Investments Inc. now owns 2,312,136 shares of the Wireless communications provider’s stock worth $61,808,000 after acquiring an additional 2,141,227 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.