Rogers Communications Inc. (NYSE:RCI) Receives Consensus Recommendation of “Hold” from Brokerages

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $61.75.

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

Hedge Funds Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its position in Rogers Communications by 123.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock valued at $206,565,000 after purchasing an additional 3,717,487 shares during the last quarter. FIL Ltd increased its stake in shares of Rogers Communications by 7.2% in the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock valued at $1,028,336,000 after purchasing an additional 2,244,240 shares during the period. Bank of Nova Scotia raised its holdings in shares of Rogers Communications by 20.6% during the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider’s stock valued at $237,784,000 after buying an additional 1,320,200 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its position in shares of Rogers Communications by 23.5% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider’s stock worth $160,094,000 after buying an additional 992,780 shares during the period. Finally, National Bank of Canada FI grew its holdings in Rogers Communications by 18.6% in the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after buying an additional 977,924 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Rogers Communications stock opened at $26.71 on Tuesday. Rogers Communications has a 52 week low of $26.57 and a 52 week high of $41.84. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The stock has a market cap of $14.32 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The stock has a 50 day moving average of $27.94 and a 200-day moving average of $32.74.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS 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%. On average, analysts expect that Rogers Communications will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.20%. 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.