Bank of America Corporation started coverage on shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) in a research note published on Tuesday. The brokerage issued a buy rating on the Wireless communications provider’s stock.
Several other equities research analysts have also issued reports on the stock. Morgan Stanley lifted their price objective on shares of Rogers Communication from $67.00 to $71.00 and gave the company an equal weight rating in a research note on Friday, November 17th. Zacks Investment Research lowered shares of Rogers Communication from a buy rating to a hold rating in a research note on Wednesday, November 8th. TheStreet raised shares of Rogers Communication from a c+ rating to a b rating in a research note on Thursday, October 19th. Finally, Barclays PLC lifted their price objective on shares of Rogers Communication from $56.00 to $58.00 and gave the company an equal weight rating in a research note on Friday, October 20th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Rogers Communication has a consensus rating of Buy and an average price target of $61.80.
Shares of Rogers Communication (NYSE RCI) opened at $54.43 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.41 and a debt-to-equity ratio of 2.01. Rogers Communication has a 52 week low of $37.81 and a 52 week high of $54.95. The stock has a market cap of $27,897.55, a price-to-earnings ratio of 21.42, a P/E/G ratio of 3.98 and a beta of 0.93.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. research analysts forecast that Rogers Communication will post 2.72 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a $0.48 dividend. The ex-dividend date is Friday, December 8th. This represents a $1.92 annualized dividend and a yield of 3.53%. Rogers Communication’s dividend payout ratio (DPR) is presently 81.48%.
A number of institutional investors and hedge funds have recently made changes to their positions in RCI. FMR LLC raised its holdings in Rogers Communication by 21.2% in the 2nd quarter. FMR LLC now owns 33,392,433 shares of the Wireless communications provider’s stock worth $1,577,180,000 after acquiring an additional 5,832,908 shares during the period. APG Asset Management N.V. raised its holdings in Rogers Communication by 82.0% in the 3rd quarter. APG Asset Management N.V. now owns 3,061,063 shares of the Wireless communications provider’s stock worth $157,479,000 after acquiring an additional 1,379,400 shares during the period. CIBC Asset Management Inc raised its holdings in Rogers Communication by 41.3% in the 2nd quarter. CIBC Asset Management Inc now owns 4,493,734 shares of the Wireless communications provider’s stock worth $212,001,000 after acquiring an additional 1,314,087 shares during the period. Neuberger Berman Group LLC bought a new position in Rogers Communication in the 2nd quarter worth $21,915,000. Finally, Renaissance Technologies LLC raised its holdings in Rogers Communication by 41.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,243,200 shares of the Wireless communications provider’s stock worth $58,694,000 after acquiring an additional 365,000 shares during the period. Hedge funds and other institutional investors own 46.93% 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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