Rogers Communications (NYSE:RCI) PT Raised to $74.00

Rogers Communications (NYSE:RCI) (TSE:RCI.B) had its target price raised by equities research analysts at TD Securities from $73.00 to $74.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the Wireless communications provider’s stock. TD Securities’ price objective suggests a potential upside of 85.74% from the stock’s current price.

Other analysts have also recently issued reports about the stock. BMO Capital Markets increased their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications Price Performance

NYSE:RCI traded up $0.19 during mid-day trading on Thursday, hitting $39.84. The company’s stock had a trading volume of 285,528 shares, compared to its average volume of 726,100. The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 49.80, a P/E/G ratio of 1.06 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. Rogers Communications has a fifty-two week low of $35.55 and a fifty-two week high of $48.19. The stock has a fifty day moving average of $39.35 and a 200-day moving average of $39.41.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.33. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts forecast that Rogers Communications will post 3.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Rogers Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of RCI. Gold Investment Management Ltd. boosted its stake in shares of Rogers Communications by 1.3% during the 1st quarter. Gold Investment Management Ltd. now owns 21,085 shares of the Wireless communications provider’s stock worth $864,000 after buying an additional 270 shares during the last quarter. Gulf International Bank UK Ltd grew its stake in Rogers Communications by 13.4% in the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock valued at $111,000 after purchasing an additional 322 shares in the last quarter. Assetmark Inc. increased its position in shares of Rogers Communications by 1.8% during the 4th quarter. Assetmark Inc. now owns 18,891 shares of the Wireless communications provider’s stock worth $884,000 after purchasing an additional 331 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 522 shares in the last quarter. Finally, First Affirmative Financial Network boosted its holdings in shares of Rogers Communications by 11.2% in the 2nd quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider’s stock valued at $239,000 after buying an additional 649 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Company Profile

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.