Analysts Rate Rogers Communication as “Hold” with Price Target of $36

Shares of Rogers Communication, Inc. (NYSE: RCI) have received an average rating of “Hold” from nine analysts monitoring the company, as reported by Marketbeat Ratings. Among the analysts, one has issued a sell rating, while four have designated the stock as a hold and four as a buy. The consensus 1-year price target stands at $36.00, reflecting the analysts’ outlook on the company’s performance.

Several research firms have recently commented on Rogers Communication. In a note published on January 12, Scotiabank maintained a “sector perform” rating. The following day, Royal Bank of Canada reiterated an “outperform” rating. Additionally, Weiss Ratings reaffirmed a “hold (c+)” rating on December 26, 2023. Notably, on January 3, Wall Street Zen upgraded the stock from a “hold” rating to a “buy” rating, while TD Cowen retained its “buy” rating on December 1, 2023.

Recent Earnings Report

On October 23, Rogers Communication released its latest earnings report, revealing earnings per share (EPS) of $0.99 for the quarter. This result surpassed the consensus estimate of $0.92 by $0.07. The company reported a total revenue of $3.84 billion, falling short of analyst expectations of $5.33 billion. Despite this, the company achieved a return on equity of 17.14% and a net margin of 32.49%. Revenue increased by 4.3% compared to the same quarter last year, although EPS declined from $1.42 in the prior year.

Equities analysts project that Rogers Communication will post an EPS of 3.57 for the current fiscal year, indicating ongoing scrutiny of the company’s financial performance.

Institutional Investments

Several institutional investors have adjusted their holdings in Rogers Communication recently. Farther Finance Advisors LLC increased its stake by 107.4% in the fourth quarter, now holding 786 shares valued at approximately $30,000. Similarly, Headlands Technologies LLC raised its holdings by 143.2% in the second quarter, bringing its total to 1,661 shares worth $49,000.

Other notable changes include an increase of 106.2% in holdings by SBI Securities Co. Ltd., which now owns 1,951 shares valued at around $58,000. Additionally, MAI Capital Management boosted its position by 30.5%, now holding 1,958 shares worth $58,000. Overall, approximately 45.49% of the stock is currently owned by hedge funds and other institutional investors.

About Rogers Communication

Founded in Toronto, Ontario, Rogers Communication, Inc. is a leading integrated communications and media company in Canada. The organization provides a wide array of telecommunications services to both residential and business customers nationwide, which includes wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise sector, it offers managed IT, data center and cloud solutions, as well as networking services tailored to small businesses and large enterprises.

In addition to its connectivity offerings, Rogers manages a substantial media portfolio that encompasses national and regional television and radio assets, sports broadcasting rights, and other content-related businesses. The company continues to play a significant role in shaping communication and media landscapes across Canada.