The Rogers Communications Inc. (RCI) Given Consensus Rating of “Hold” by Brokerages

The Rogers Communications Inc. (RCI) Given Consensus Rating of “Hold” by Brokerages

Several equities research analysts have recently weighed in on RCI shares. Zacks Investment Research lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. CIBC lowered shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, April 5th. They noted that the move was a valuation call. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $60.00 target price on shares of Rogers Communications in a report on Thursday, April 13th.

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have received an average recommendation of “Hold” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $55.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Rogers Communications by 10.2% in the first quarter. FMR LLC now owns 27,559,525 shares of the Wireless communications provider’s stock valued at $1,218,560,000 after buying an additional 2,546,782 shares during the period. Beutel Goodman & Co Ltd. increased its position in shares of Rogers Communications by 4.7% in the first quarter. Beutel Goodman & Co Ltd. now owns 23,504,111 shares of the Wireless communications provider’s stock valued at $1,037,483,000 after buying an additional 1,045,495 shares during the period. TD Asset Management Inc. increased its position in shares of Rogers Communications by 1.6% in the third quarter. TD Asset Management Inc. now owns 14,968,919 shares of the Wireless communications provider’s stock valued at $633,893,000 after buying an additional 232,775 shares during the period. Vanguard Group Inc. increased its position in shares of Rogers Communications by 4.6% in the first quarter. Vanguard Group Inc. now owns 7,799,123 shares of the Wireless communications provider’s stock valued at $344,877,000 after buying an additional 343,169 shares during the period. Finally, Mawer Investment Management Ltd. increased its position in shares of Rogers Communications by 1.9% in the first quarter. Mawer Investment Management Ltd. now owns 6,182,883 shares of the Wireless communications provider’s stock valued at $476,203,000 after buying an additional 112,870 shares during the period. Institutional investors and hedge funds own 50.95% of the company’s stock. Shares of Rogers Communications (RCI) traded up 0.47% during mid-day trading on Tuesday, reaching $46.87. 149,573 shares of the company traded hands. Rogers Communications has a 52-week low of $37.03 and a 52-week high of $47.42. The stock has a market capitalization of $24.13 billion, a PE ratio of 36.53 and a beta of 0.96. The stock’s 50 day moving average is $46.06 and its 200 day moving average is $42.35.

Rogers Communications (NYSE:RCI) last posted its earnings results on Tuesday, April 18th. The Wireless communications provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Rogers Communications had a net margin of 6.26% and a return on equity of 25.46%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Rogers Communications will post $2.45 earnings per share for the current year. The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 4th. Investors of record on Monday, June 12th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, June 8th. This represents a $1.92 annualized dividend and a yield of 4.10%. Rogers Communications’s dividend payout ratio (DPR) is 116.26%.

About Rogers Communications 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RCI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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