Rogers Communications’ (RCI) Hold Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) in a research report released on Thursday, MarketBeat.com reports. They currently have a $57.00 price target on the Wireless communications provider’s stock, down from their prior price target of $59.00.

Several other analysts have also recently issued reports on the stock. StockNews.com raised shares of Rogers Communications from a sell rating to a hold rating in a research note on Thursday, July 11th. Barclays dropped their price target on Rogers Communications from $52.00 to $46.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group downgraded Rogers Communications from a buy rating to a hold rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Rogers Communications has a consensus rating of Moderate Buy and an average price target of $51.50.

Rogers Communications Stock Performance

NYSE RCI opened at $37.82 on Thursday. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $38.03 and its 200-day simple moving average is $41.06. The company has a market cap of $20.05 billion, a PE ratio of 47.28, a price-to-earnings-growth ratio of 1.03 and a beta of 0.68. Rogers Communications has a 1-year low of $35.55 and a 1-year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, beating the consensus estimate of $0.83 by $0.33. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the company earned $0.76 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Rogers Communications will post 3.58 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th will be issued a dividend of $0.365 per share. The ex-dividend date is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.86%. Rogers Communications’s dividend payout ratio is currently 183.75%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new stake in Rogers Communications in the first quarter valued at $835,000. Barometer Capital Management Inc. acquired a new stake in shares of Rogers Communications during the 4th quarter worth about $1,092,000. Janney Montgomery Scott LLC purchased a new stake in Rogers Communications in the 4th quarter valued at about $1,719,000. CIBC Asset Management Inc lifted its position in Rogers Communications by 19.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,532,864 shares of the Wireless communications provider’s stock valued at $71,988,000 after buying an additional 247,496 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Rogers Communications by 8.6% during the first quarter. Russell Investments Group Ltd. now owns 195,754 shares of the Wireless communications provider’s stock worth $8,040,000 after buying an additional 15,454 shares during the period. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Company Profile

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.