Rogers Communications Inc. (NYSE:RCI) Given Average Rating of “Moderate Buy” by Analysts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has received an average rating of “Moderate Buy” from the four research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $51.50.

RCI has been the subject of several research reports. Canaccord Genuity Group lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $57.00 target price (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th.

Hedge Funds Weigh In On Rogers Communications

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of Rogers Communications during the first quarter valued at $835,000. Barometer Capital Management Inc. acquired a new position in shares of Rogers Communications during the fourth quarter valued at $1,092,000. Janney Montgomery Scott LLC acquired a new position in shares of Rogers Communications during the fourth quarter valued at $1,719,000. CIBC Asset Management Inc boosted its holdings in shares of Rogers Communications by 19.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,532,864 shares of the Wireless communications provider’s stock valued at $71,988,000 after acquiring an additional 247,496 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Rogers Communications by 8.6% during the first quarter. Russell Investments Group Ltd. now owns 195,754 shares of the Wireless communications provider’s stock valued at $8,040,000 after acquiring an additional 15,454 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Trading Down 0.2 %

NYSE RCI opened at $40.81 on Friday. The company’s fifty day moving average price is $39.29 and its two-hundred day moving average price is $39.40. The company has a market capitalization of $21.63 billion, a price-to-earnings ratio of 51.01, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. Rogers Communications has a 12 month low of $35.55 and a 12 month high of $48.19. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $0.83 by $0.33. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. As a group, research analysts predict that Rogers Communications will post 3.59 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 9th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is 185.00%.

Rogers Communications 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.