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

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

Several research firms have recently commented on RCI. Raymond James Financial assumed coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. Barclays dropped their price target on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Wall Street Zen raised Rogers Communication from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th.

Rogers Communication Stock Performance

NYSE RCI opened at $36.20 on Tuesday. The company has a fifty day simple moving average of $35.05 and a 200 day simple moving average of $36.24. Rogers Communication has a 12-month low of $31.38 and a 12-month high of $41.14. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The company has a market cap of $19.55 billion, a P/E ratio of 4.37, a PEG ratio of 4.50 and a beta of 0.66.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the business posted $1.14 EPS. Rogers Communication’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that Rogers Communication will post 3.29 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. Rogers Communication’s payout ratio is presently 17.39%.

Institutional Investors Weigh In On Rogers Communication

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Rogers Communication by 10.2% in the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock valued at $130,000 after purchasing an additional 312 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Rogers Communication by 6.0% in the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock worth $203,000 after purchasing an additional 334 shares during the last quarter. Monarch Capital Management Inc. grew its holdings in shares of Rogers Communication by 0.6% in the first quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock worth $2,299,000 after purchasing an additional 360 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Rogers Communication by 15.5% in the first 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, Orion Porfolio Solutions LLC increased its stake in shares of Rogers Communication by 6.5% in the fourth quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the Wireless communications provider’s stock worth $297,000 after buying an additional 479 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.

Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.