Rogers Communications’ (RCI) “Sector Perform” Rating Reaffirmed at Scotia Howard Weill

Scotia Howard Weill reaffirmed their sector perform rating on shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) in a report published on Monday morning, FirstToMarketsRatingsTable reports.

A number of other equities analysts also recently commented on the company. Echelon Wealth Partners reiterated a buy rating on shares of Rogers Communications in a research report on Friday, January 25th. Zacks Investment Research upgraded Rogers Communications from a hold rating to a buy rating and set a $60.00 price objective on the stock in a research report on Friday, February 8th. Scotiabank downgraded Rogers Communications from a sector outperform rating to a sector perform rating in a research report on Monday. Howard Weil downgraded Rogers Communications from a sector outperform rating to a sector perform rating in a research report on Monday. Finally, ValuEngine downgraded Rogers Communications from a buy rating to a hold rating in a research report on Friday, March 1st. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Rogers Communications has an average rating of Hold and a consensus price target of $54.68.

Shares of NYSE:RCI opened at $49.04 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $26.44 billion, a PE ratio of 14.64, a PEG ratio of 2.93 and a beta of 0.71. Rogers Communications has a 1 year low of $46.09 and a 1 year high of $55.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.72 billion. Rogers Communications had a return on equity of 27.52% and a net margin of 13.47%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share. Research analysts anticipate that Rogers Communications will post 3.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be given a dividend of $0.3753 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.50 dividend on an annualized basis and a yield of 3.06%. Rogers Communications’s payout ratio is 45.37%.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc lifted its position in Rogers Communications by 2.7% during the third quarter. Vanguard Group Inc now owns 9,184,653 shares of the Wireless communications provider’s stock worth $472,183,000 after buying an additional 237,435 shares in the last quarter. Lourd Capital LLC purchased a new stake in Rogers Communications in the fourth quarter valued at $203,000. Norges Bank purchased a new stake in Rogers Communications in the fourth quarter valued at $88,666,000. Mn Services Vermogensbeheer B.V. raised its position in Rogers Communications by 231.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 198,254 shares of the Wireless communications provider’s stock valued at $8,884,000 after purchasing an additional 138,360 shares during the period. Finally, Raymond James Trust N.A. raised its position in Rogers Communications by 45.5% in the fourth quarter. Raymond James Trust N.A. now owns 13,482 shares of the Wireless communications provider’s stock valued at $691,000 after purchasing an additional 4,213 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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 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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Analyst Recommendations for Rogers Communications (NYSE:RCI)

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