Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have been assigned an average rating of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $60.18.
Several equities analysts have recently issued reports on RCI shares. Scotiabank lowered shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Monday, April 22nd. Royal Bank of Canada reiterated a “hold” rating on shares of Rogers Communications in a report on Monday, April 22nd. JPMorgan Chase & Co. lowered shares of Rogers Communications from a “neutral” rating to an “underweight” rating in a report on Monday, July 8th. BMO Capital Markets decreased their price objective on shares of Rogers Communications from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Scotia Howard Weill restated a “sector perform” rating on shares of Rogers Communications in a report on Monday, April 22nd.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its holdings in Rogers Communications by 34.2% in the 1st quarter. Signaturefd LLC now owns 1,780 shares of the Wireless communications provider’s stock worth $96,000 after acquiring an additional 454 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Rogers Communications by 26.5% in the 1st quarter. Quadrant Capital Group LLC now owns 2,163 shares of the Wireless communications provider’s stock worth $111,000 after acquiring an additional 453 shares during the last quarter. Exane Derivatives raised its holdings in Rogers Communications by 107.0% in the 1st quarter. Exane Derivatives now owns 2,070 shares of the Wireless communications provider’s stock worth $111,000 after acquiring an additional 1,070 shares during the last quarter. Neuburgh Advisers LLC raised its holdings in Rogers Communications by 12.2% in the 2nd quarter. Neuburgh Advisers LLC now owns 2,352 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 256 shares during the last quarter. Finally, Assetmark Inc. purchased a new position in Rogers Communications in the 2nd quarter worth approximately $153,000. Institutional investors own 44.65% of the company’s stock.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Tuesday, July 23rd. The Wireless communications provider reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.02). Rogers Communications had a net margin of 13.79% and a return on equity of 26.66%. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. Rogers Communications’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts forecast that Rogers Communications will post 3.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a $0.3732 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.49 dividend on an annualized basis and a yield of 2.92%. Rogers Communications’s payout ratio is currently 44.18%.
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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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