Rogers Communication (NYSE:RCI) (TSE:RCI.B) had its target price raised by Morgan Stanley from $67.00 to $71.00 in a report released on Friday, November 17th. The firm currently has an “equal weight” rating on the Wireless communications provider’s stock. Morgan Stanley’s price target suggests a potential upside of 37.28% from the stock’s previous close.
RCI has been the subject of a number of other reports. Zacks Investment Research downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Barclays increased their target price on Rogers Communication from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, October 20th. Finally, TheStreet upgraded 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, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $61.80.
Rogers Communication (RCI) traded down $0.50 during midday trading on Friday, hitting $51.72. 275,798 shares of the stock traded hands, compared to its average volume of 308,995. The stock has a market cap of $26,883.38, a price-to-earnings ratio of 20.64, a P/E/G ratio of 3.84 and a beta of 0.92. Rogers Communication has a 12-month low of $37.81 and a 12-month high of $54.95. The company has a quick ratio of 0.38, a current ratio of 0.41 and a debt-to-equity ratio of 2.01.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.19). Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts forecast that Rogers Communication will post 2.72 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake in Rogers Communication by 21.2% in the second quarter. FMR LLC now owns 33,392,433 shares of the Wireless communications provider’s stock valued at $1,577,180,000 after purchasing an additional 5,832,908 shares during the last quarter. APG Asset Management N.V. grew its stake in Rogers Communication by 82.0% in the third quarter. APG Asset Management N.V. now owns 3,061,063 shares of the Wireless communications provider’s stock valued at $157,479,000 after purchasing an additional 1,379,400 shares during the last quarter. CIBC Asset Management Inc grew its stake in Rogers Communication by 41.3% in the second quarter. CIBC Asset Management Inc now owns 4,493,734 shares of the Wireless communications provider’s stock valued at $212,001,000 after purchasing an additional 1,314,087 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in Rogers Communication in the second quarter valued at about $21,915,000. Finally, Renaissance Technologies LLC grew its stake in Rogers Communication by 41.6% in the second quarter. Renaissance Technologies LLC now owns 1,243,200 shares of the Wireless communications provider’s stock valued at $58,694,000 after purchasing an additional 365,000 shares during the last quarter. Hedge funds and other institutional investors own 47.23% of the company’s stock.
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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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