Rogers Communication, Inc. (NYSE:RCI) Stock Has Average Price Target of $36.00

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has received an average rating of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $36.00.

A number of brokerages have recently issued reports on RCI. Barclays reduced their price objective on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Weiss Ratings upgraded Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Monday, September 14th. Finally, TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Thursday, July 23rd.

Hedge Funds Weigh In On Rogers Communication

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCI. Fiera Capital Corp grew its position in Rogers Communication by 8,881.3% in the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after buying an additional 7,116,744 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Rogers Communication by 98.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock worth $77,871,000 after buying an additional 1,004,963 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Rogers Communication by 7.6% during the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock worth $241,467,000 after buying an additional 445,964 shares in the last quarter. Swiss National Bank lifted its stake in shares of Rogers Communication by 27.0% in the 1st quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock worth $47,146,000 after acquiring an additional 261,000 shares during the period. Finally, Natixis Advisors LLC lifted its stake in shares of Rogers Communication by 757.7% in the 4th quarter. Natixis Advisors LLC now owns 292,686 shares of the Wireless communications provider’s stock worth $11,043,000 after acquiring an additional 258,562 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Price Performance

Shares of Rogers Communication stock opened at $30.37 on Friday. Rogers Communication has a 12-month low of $30.15 and a 12-month high of $41.14. The firm has a market cap of $16.41 billion, a PE ratio of 3.67, a price-to-earnings-growth ratio of 3.86 and a beta of 0.65. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. The company’s fifty day simple moving average is $34.97 and its two-hundred day simple moving average is $35.47.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the company posted $1.14 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that Rogers Communication will post 3.26 EPS for the current year.

Rogers Communication Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th were given a C$0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.6%. Rogers Communication’s payout ratio is presently 17.39%.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers’ telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.