Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, October 24th. The firm currently has a $59.00 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.27% from the stock’s current price.
According to Zacks, “Rogers Communications posted mixed third-quarter 2017 financial results, with the bottom line beating the Zacks Consensus Estimate while the top line missed the same. The company’s wireless and cable segment has been doing well with huge wireless and high-speed internet subscriber gain. We are bullish about the company’s wireless growth from the roll out of lower block spectrum and offering of Internet of Things as a service to business enterprises. Over the past three months, the stock price grew 2.1% beating the industry's loss of 5.4%. The company has maintained its position as the largest integrated-telecom operator in Canada. On the other hand, the company operates in an intensely competitive wireless and cable TV industry. Also, continuous softness in the advertising market, declining cash flow and loss of viewers to video streaming service providers remain potent headwinds.”
A number of other equities analysts also recently commented on the stock. Morgan Stanley boosted their price objective on shares of Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, August 25th. BidaskClub raised shares of Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. TheStreet raised shares of Rogers Communication from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Finally, Barclays PLC lifted their price target on shares of Rogers Communication from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $61.00.
Shares of Rogers Communication (NYSE:RCI) opened at $52.55 on Tuesday. The firm has a market cap of $27,053.27, a P/E ratio of 20.77, a PEG ratio of 3.86 and a beta of 0.93. Rogers Communication has a 12 month low of $37.03 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.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 19th. The Wireless communications provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.19). The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.63 billion. Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. sell-side analysts expect that Rogers Communication will post 2.72 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Westpac Banking Corp grew its holdings 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 valued at $7,166,000 after buying an additional 6,000 shares during the last quarter. Baskin Financial Services Inc. grew its holdings 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 valued at $14,948,000 after buying an additional 2,330 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings 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 valued at $93,455,000 after buying an additional 83,500 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Rogers Communication during the second quarter valued at $21,915,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Rogers Communication by 15.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 150,534 shares of the Wireless communications provider’s stock valued at $7,100,000 after buying an additional 19,830 shares during the last quarter. 47.62% of the stock is currently owned by hedge funds and other institutional investors.
Rogers Communication Company Profile
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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