Rogers Communication, Inc. (NYSE:RCI) Receives $36.00 Consensus Target Price from Analysts

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) has received an average rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $36.00.

Several research analysts have recently issued reports on the company. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Rogers Communication in a research report on Friday, October 24th. Finally, Barclays lifted their price objective on shares of Rogers Communication from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th.

Rogers Communication Trading Up 0.0%

NYSE RCI opened at $38.54 on Wednesday. Rogers Communication has a 12-month low of $23.18 and a 12-month high of $40.26. The company has a fifty day simple moving average of $36.86 and a two-hundred day simple moving average of $32.98. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55. The stock has a market cap of $20.82 billion, a P/E ratio of 4.28, a P/E/G ratio of 3.29 and a beta of 0.81.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. Rogers Communication had a return on equity of 17.14% and a net margin of 32.49%.The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the prior year, the firm earned $1.42 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. On average, analysts forecast that Rogers Communication will post 3.57 earnings per share for the current year.

Institutional Investors Weigh In On Rogers Communication

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Rogers Communication by 2.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider’s stock valued at $340,428,000 after buying an additional 282,609 shares during the period. Bank of Nova Scotia lifted its holdings in Rogers Communication by 2.3% in the third quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider’s stock valued at $291,526,000 after acquiring an additional 186,510 shares during the period. Mackenzie Financial Corp boosted its position in Rogers Communication by 0.4% in the 1st quarter. Mackenzie Financial Corp now owns 8,368,837 shares of the Wireless communications provider’s stock worth $223,483,000 after purchasing an additional 37,013 shares in the last quarter. TD Asset Management Inc boosted its position in Rogers Communication by 18.0% in the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after purchasing an additional 1,272,065 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. grew its stake in shares of Rogers Communication by 14.8% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock worth $199,922,000 after purchasing an additional 868,800 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

About Rogers Communication

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.