Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) had its target price raised by equities research analysts at Morgan Stanley from $67.00 to $71.00 in a note issued to investors on Friday. The brokerage currently has an “equal weight” rating on the Wireless communications provider’s stock. Morgan Stanley’s price objective points to a potential upside of 32.34% from the company’s previous close.
A number of other analysts have also weighed in on RCI. Zacks Investment Research lowered Rogers Communication from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Barclays PLC upped their price objective on Rogers Communication from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Finally, TheStreet raised Rogers Communication from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $61.80.
Shares of Rogers Communication (NYSE RCI) opened at $53.65 on Friday. Rogers Communication has a 12-month low of $37.81 and a 12-month high of $54.24. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.38 and a current ratio of 0.41. The firm has a market capitalization of $27,619.56, a price-to-earnings ratio of 21.21, a PEG ratio of 3.94 and a beta of 0.93.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.19). Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the prior year, the company posted $0.83 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. research analysts forecast that Rogers Communication will post 2.72 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. Westpac Banking Corp grew its stake in shares of Rogers Communication by 5.4% during the second quarter. Westpac Banking Corp now owns 117,004 shares of the Wireless communications provider’s stock worth $7,166,000 after purchasing an additional 6,000 shares in the last quarter. Baskin Financial Services Inc. grew its stake in shares of Rogers Communication by 0.7% during the second quarter. Baskin Financial Services Inc. now owns 316,859 shares of the Wireless communications provider’s stock worth $14,948,000 after purchasing an additional 2,330 shares in the last quarter. Bollard Group LLC grew its stake in shares of Rogers Communication by 7.5% during the third quarter. Bollard Group LLC now owns 48,010 shares of the Wireless communications provider’s stock worth $2,474,000 after purchasing an additional 3,368 shares in the last quarter. OMERS ADMINISTRATION Corp grew its stake in shares of Rogers Communication by 4.4% during the second quarter. OMERS ADMINISTRATION Corp now owns 1,981,560 shares of the Wireless communications provider’s stock worth $93,455,000 after purchasing an additional 83,500 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of Rogers Communication during the second quarter worth $21,915,000. Hedge funds and other institutional investors own 47.31% of the company’s stock.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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