Rogers Communications (NYSE:RCI) Stock Rating Upgraded by Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat reports.

A number of other equities analysts have also commented on the stock. StockNews.com started coverage on shares of Rogers Communications in a report on Thursday, March 31st. They issued a hold rating on the stock. BMO Capital Markets boosted their price objective on shares of Rogers Communications from C$76.00 to C$80.00 in a report on Thursday, April 21st. Scotiabank boosted their price objective on shares of Rogers Communications from C$87.00 to C$89.00 in a report on Thursday, April 21st. TheStreet lowered shares of Rogers Communications from a b- rating to a c+ rating in a report on Monday, May 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of Rogers Communications from C$75.00 to C$77.00 in a report on Thursday, April 21st. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Rogers Communications currently has an average rating of Moderate Buy and a consensus target price of $79.33.

NYSE:RCI opened at $47.36 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 2.39 and a debt-to-equity ratio of 2.72. The company has a market cap of $23.91 billion, a P/E ratio of 19.10, a P/E/G ratio of 2.60 and a beta of 0.48. Rogers Communications has a fifty-two week low of $44.19 and a fifty-two week high of $64.55. The firm’s 50 day moving average is $51.59 and its two-hundred day moving average is $51.36.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last posted its earnings results on Wednesday, April 20th. The Wireless communications provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.09. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.63 billion. Rogers Communications had a net margin of 10.73% and a return on equity of 17.67%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. Research analysts forecast that Rogers Communications will post 3 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 4th. Investors of record on Friday, June 10th will be given a dividend of $0.396 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, June 9th. Rogers Communications’s dividend payout ratio is presently 63.71%.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Rogers Communications by 2.1% during the first quarter. Vanguard Group Inc. now owns 11,396,833 shares of the Wireless communications provider’s stock valued at $646,770,000 after purchasing an additional 238,829 shares during the last quarter. 1832 Asset Management L.P. increased its stake in Rogers Communications by 8.8% in the 1st quarter. 1832 Asset Management L.P. now owns 9,826,574 shares of the Wireless communications provider’s stock valued at $549,325,000 after buying an additional 798,106 shares during the period. CIBC World Markets Inc. increased its stake in Rogers Communications by 5.1% in the 4th quarter. CIBC World Markets Inc. now owns 4,282,077 shares of the Wireless communications provider’s stock valued at $203,955,000 after buying an additional 207,585 shares during the period. The Manufacturers Life Insurance Company increased its stake in Rogers Communications by 34.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,151,634 shares of the Wireless communications provider’s stock valued at $235,368,000 after buying an additional 1,055,658 shares during the period. Finally, Letko Brosseau & Associates Inc. increased its stake in Rogers Communications by 14.6% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 3,848,566 shares of the Wireless communications provider’s stock valued at $183,509,000 after buying an additional 491,690 shares during the period. 41.73% of the stock is owned by institutional investors.

Rogers Communications Company Profile (Get Rating)

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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

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