Rogers Communication, Inc. (NYSE:RCI) Stock Has Average Target Price of $35.00

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $35.00.

RCI has been the topic of several recent research reports. Barclays decreased their price objective on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 13th. Desjardins upgraded Rogers Communication from a “hold” rating to a “buy” rating in a report on Monday, September 14th. Raymond James Financial initiated coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They set an “outperform” rating on the stock. Weiss Ratings upgraded shares of Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Finally, TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd.

Institutional Trading of Rogers Communication

Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in Rogers Communication by 224.7% during the 3rd quarter. IFP Advisors Inc now owns 1,445 shares of the Wireless communications provider’s stock valued at $45,000 after purchasing an additional 1,000 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Rogers Communication in the 3rd quarter valued at about $75,000. Fortitude Family Office LLC purchased a new stake in Rogers Communication in the 3rd quarter worth approximately $76,000. EverSource Wealth Advisors LLC boosted its stake in shares of Rogers Communication by 15.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider’s stock valued at $119,000 after buying an additional 418 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Rogers Communication by 10.2% in the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock worth $130,000 after acquiring an additional 312 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communication Trading Down 0.5%

Shares of RCI stock opened at $33.36 on Wednesday. Rogers Communication has a twelve month low of $29.25 and a twelve month high of $41.14. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.65. The business’s 50 day moving average is $33.43 and its two-hundred day moving average is $35.65. The company has a market capitalization of $18.02 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 3.84 and a beta of 0.66.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Friday, October 23rd. The Wireless communications provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. Rogers Communication had a return on equity of 11.51% and a net margin of 4.11%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the company earned $1.37 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts forecast that Rogers Communication will post 3.57 EPS for the current year.

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 8th will be given a dividend of C$0.50 per share. The ex-dividend date is Tuesday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 6.0%. Rogers Communication’s payout ratio is currently 120.00%.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.