Analysts Set Rogers Communications Inc. (NYSE:RCI) Price Target at $61.75

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has earned an average rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $61.75.

A number of research analysts have recently weighed in on the stock. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Morgan Stanley initiated coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company.

Institutional Trading of Rogers Communications

Several institutional investors and hedge funds have recently bought and sold shares of the company. Polar Asset Management Partners Inc. lifted its stake in Rogers Communications by 239.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider’s stock worth $1,306,000 after purchasing an additional 29,982 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Rogers Communications by 280.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider’s stock worth $7,428,000 after purchasing an additional 178,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Rogers Communications by 7.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 749,464 shares of the Wireless communications provider’s stock worth $23,031,000 after purchasing an additional 53,208 shares in the last quarter. Twinbeech Capital LP lifted its stake in Rogers Communications by 235.5% in the 4th quarter. Twinbeech Capital LP now owns 28,844 shares of the Wireless communications provider’s stock worth $886,000 after purchasing an additional 20,246 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Rogers Communications by 198.3% in the 4th quarter. Tidal Investments LLC now owns 18,431 shares of the Wireless communications provider’s stock worth $566,000 after purchasing an additional 12,253 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Trading Up 0.1 %

Shares of RCI stock opened at $28.38 on Friday. Rogers Communications has a 52-week low of $26.57 and a 52-week high of $44.38. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The company has a 50-day simple moving average of $28.57 and a two-hundred day simple moving average of $34.18. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Research analysts anticipate that Rogers Communications will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be paid a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 4.89%. The ex-dividend date is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

About Rogers Communications

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.