StockNews.com Lowers Rogers Communications (NYSE:RCI) to Hold

StockNews.com cut shares of Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) from a buy rating to a hold rating in a research report released on Tuesday.

A number of other equities research analysts have also weighed in on the company. TD Securities lifted their target price on Rogers Communications from C$76.00 to C$78.00 in a research report on Friday, February 3rd. TheStreet raised shares of Rogers Communications from a c rating to a b rating in a research report on Monday, February 6th. Barclays started coverage on shares of Rogers Communications in a research report on Monday, May 8th. They set an overweight rating on the stock. UBS Group raised shares of Rogers Communications from a neutral rating to a buy rating in a research report on Monday, February 6th. Finally, Desjardins cut Rogers Communications from a buy rating to a hold rating in a research report on Monday, April 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Rogers Communications currently has an average rating of Moderate Buy and an average price target of $74.31.

Rogers Communications Stock Performance

Shares of Rogers Communications stock opened at $45.61 on Tuesday. The stock’s fifty day moving average is $47.93 and its two-hundred day moving average is $46.97. The company has a market capitalization of $23.03 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.22 and a beta of 0.51. The company has a quick ratio of 1.85, a current ratio of 1.91 and a debt-to-equity ratio of 2.86. Rogers Communications has a 52 week low of $36.23 and a 52 week high of $52.15.

Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 26th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Rogers Communications had a net margin of 11.49% and a return on equity of 19.36%. As a group, analysts expect that Rogers Communications will post 3.76 earnings per share for the current year.

Rogers Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 9th will be paid a dividend of $0.37 per share. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.48 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Thursday, June 8th. Rogers Communications’s payout ratio is presently 56.11%.

Institutional Investors Weigh In On Rogers Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its stake in shares of Rogers Communications by 1.2% in the first quarter. American Century Companies Inc. now owns 16,949 shares of the Wireless communications provider’s stock worth $809,000 after acquiring an additional 205 shares during the period. US Bancorp DE lifted its holdings in Rogers Communications by 3.0% in the first quarter. US Bancorp DE now owns 7,289 shares of the Wireless communications provider’s stock valued at $413,000 after acquiring an additional 213 shares during the period. Brinker Capital Investments LLC boosted its position in Rogers Communications by 3.1% in the 1st quarter. Brinker Capital Investments LLC now owns 7,523 shares of the Wireless communications provider’s stock worth $427,000 after purchasing an additional 226 shares in the last quarter. 44 Wealth Management LLC grew its stake in shares of Rogers Communications by 4.3% during the 1st quarter. 44 Wealth Management LLC now owns 5,549 shares of the Wireless communications provider’s stock worth $257,000 after purchasing an additional 230 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Rogers Communications by 6.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,672 shares of the Wireless communications provider’s stock valued at $217,000 after purchasing an additional 273 shares in the last quarter. 45.46% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Company Profile

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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.