Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) had its price objective increased by equities research analysts at BMO Capital Markets from $67.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the Wireless communications provider’s stock. BMO Capital Markets’ target price points to a potential upside of 74.30% from the company’s previous close.
Several other equities analysts have also recently weighed in on RCI. Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average price target of $57.67.
Rogers Communications Price Performance
Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.33. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the firm posted $0.76 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts forecast that Rogers Communications will post 3.59 earnings per share for the current year.
Institutional Investors Weigh In On Rogers Communications
A number of institutional investors have recently added to or reduced their stakes in the company. FIL Ltd grew its holdings in shares of Rogers Communications by 13.7% during the 4th quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock worth $1,709,377,000 after purchasing an additional 4,405,888 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Rogers Communications by 10.2% during the fourth quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock worth $594,848,000 after buying an additional 1,177,264 shares in the last quarter. TD Asset Management Inc increased its holdings in Rogers Communications by 4.2% in the 1st quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider’s stock valued at $473,204,000 after buying an additional 463,368 shares during the period. Mackenzie Financial Corp increased its holdings in Rogers Communications by 10.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after buying an additional 974,937 shares during the period. Finally, Toronto Dominion Bank boosted its position in shares of Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after acquiring an additional 2,206,690 shares in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.
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.
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