Rogers Communication, Inc. (RCI) PT Raised to $67.00
Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) had its target price boosted by analysts at Morgan Stanley from $63.00 to $67.00 in a research note issued on Friday. The brokerage currently has an “equal weight” rating on the Wireless communications provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 29.32% from the company’s previous close.
Several other research firms have also recently issued reports on RCI. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Wednesday, July 12th. BidaskClub raised shares of Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Five research analysts have rated the stock with a hold rating, four 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 a consensus target price of $56.43.
Shares of Rogers Communication (NYSE:RCI) opened at 51.81 on Friday. The company has a market cap of $26.67 billion, a price-to-earnings ratio of 32.73 and a beta of 0.86. Rogers Communication has a 12-month low of $37.03 and a 12-month high of $53.07. The firm’s 50-day moving average price is $50.80 and its 200 day moving average price is $46.46.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Rogers Communication had a net margin of 7.42% and a return on equity of 28.90%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 earnings per share. On average, analysts predict that Rogers Communication will post $2.74 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Rogers Communication, Inc. (RCI) PT Raised to $67.00” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://www.thecerbatgem.com/2017/08/27/rogers-communication-inc-rci-pt-raised-to-67-00.html.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trexquant Investment LP bought a new position in shares of Rogers Communication during the first quarter worth about $500,000. Baskin Financial Services Inc. boosted its position in shares of Rogers Communication by 0.7% in the second quarter. Baskin Financial Services Inc. now owns 316,859 shares of the Wireless communications provider’s stock worth $14,948,000 after buying an additional 2,330 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of Rogers Communication during the first quarter worth about $83,685,000. Highstreet Asset Management Inc. boosted its position in shares of Rogers Communication by 2.4% in the first quarter. Highstreet Asset Management Inc. now owns 32,964 shares of the Wireless communications provider’s stock worth $1,456,000 after buying an additional 759 shares during the period. Finally, Waratah Capital Advisors Ltd. bought a new position in shares of Rogers Communication during the first quarter worth about $10,065,000. 47.78% of the stock is owned by institutional investors.
About Rogers Communication
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.
Receive News & Stock Ratings for Rogers Communication Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communication Inc. and related stocks with our FREE daily email newsletter.