Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have received a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given 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 $61.00.
RCI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Rogers Communication from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, October 24th. TheStreet upgraded Rogers Communication from a “c+” rating to a “b” rating in a report on Thursday, October 19th. BidaskClub upgraded Rogers Communication from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Morgan Stanley boosted their price objective on Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, August 25th. Finally, Barclays PLC boosted their price objective on Rogers Communication from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th.
Rogers Communication (NYSE:RCI) traded up $0.24 during midday trading on Friday, reaching $51.92. 196,245 shares of the company’s stock were exchanged, compared to its average volume of 347,069. The stock has a market capitalization of $26.59 billion, a P/E ratio of 20.42 and a beta of 0.93.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.19). Rogers Communication had a net margin of 9.20% and a return on equity of 30.40%. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the business posted $0.83 EPS. Rogers Communication’s revenue was up 2.5% compared to the same quarter last year. research analysts predict that Rogers Communication will post 2.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, December 8th. Rogers Communication’s dividend payout ratio is presently 81.48%.
Several institutional investors and hedge funds have recently modified their holdings of RCI. Wells Fargo & Company MN lifted its stake in shares of Rogers Communication by 13.2% during the first quarter. Wells Fargo & Company MN now owns 18,214 shares of the Wireless communications provider’s stock worth $806,000 after purchasing an additional 2,120 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Rogers Communication by 4.6% during the first quarter. Vanguard Group Inc. now owns 7,799,123 shares of the Wireless communications provider’s stock worth $344,877,000 after acquiring an additional 343,169 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Rogers Communication by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 132,332 shares of the Wireless communications provider’s stock worth $5,852,000 after acquiring an additional 1,983 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Rogers Communication during the first quarter worth about $288,000. Finally, Creative Planning increased its position in shares of Rogers Communication by 7.8% during the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 47.70% of the company’s stock.
About Rogers Communication
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.
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