Brokerages Set Rogers Communications Inc. (NYSE:RCI) PT at $61.75

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $61.75.

A number of brokerages have recently weighed in on RCI. TD Securities boosted their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets upped their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th.

Institutional Investors Weigh In On Rogers Communications

Several hedge funds have recently made changes to their positions in RCI. The Manufacturers Life Insurance Company lifted its position in shares of Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after acquiring an additional 3,980,525 shares during the period. MQS Management LLC bought a new position in Rogers Communications in the third quarter worth $726,000. Toronto Dominion Bank boosted its stake in Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after buying an additional 2,206,690 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Rogers Communications by 1,046.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock worth $24,101,000 after buying an additional 547,201 shares in the last quarter. Finally, Intact Investment Management Inc. increased its holdings in Rogers Communications by 13.1% in the 3rd quarter. Intact Investment Management Inc. now owns 2,255,441 shares of the Wireless communications provider’s stock valued at $90,695,000 after buying an additional 261,220 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $35.86 on Wednesday. The stock has a market capitalization of $19.16 billion, a P/E ratio of 17.49, a P/E/G ratio of 1.11 and a beta of 0.67. The business has a 50-day moving average of $37.33 and a two-hundred day moving average of $38.36. Rogers Communications has a fifty-two week low of $34.95 and a fifty-two week high of $48.19. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. On average, equities research analysts predict that Rogers Communications will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 4.03%. Rogers Communications’s payout ratio is 71.71%.

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.