BMO Capital Markets Boosts Rogers Communications (NYSE:RCI) Price Target to C$80.00

Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) had its target price lifted by equities researchers at BMO Capital Markets from C$76.00 to C$80.00 in a research note issued to investors on Thursday, The Fly reports.

RCI has been the topic of several other reports. Scotiabank lifted their target price on shares of Rogers Communications from C$87.00 to C$89.00 in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$78.00 to C$90.00 in a research report on Thursday. Desjardins raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, January 28th. CIBC raised shares of Rogers Communications from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 25th. Finally, Canaccord Genuity Group boosted their price objective on shares of Rogers Communications from C$65.00 to C$69.00 and gave the company a “hold” rating in a research report on Thursday, April 14th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $76.20.

Shares of RCI stock traded down $1.27 during trading hours on Thursday, hitting $59.62. 18,557 shares of the company’s stock were exchanged, compared to its average volume of 348,789. The company has a market capitalization of $30.10 billion, a PE ratio of 24.63, a PEG ratio of 2.83 and a beta of 0.47. Rogers Communications has a 12-month low of $44.19 and a 12-month high of $64.55. The business’s 50 day simple moving average is $54.70 and its 200-day simple moving average is $50.18. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.63.

Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, April 20th. The Wireless communications provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.82 by $0.09. Rogers Communications had a net margin of 10.62% and a return on equity of 17.45%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the firm posted $0.61 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Rogers Communications will post 3.12 EPS for the current year.

Several hedge funds have recently made changes to their positions in RCI. Norges Bank bought a new position in Rogers Communications in the 4th quarter worth about $168,909,000. BlackRock Inc. boosted its stake in Rogers Communications by 551.2% in the 3rd quarter. BlackRock Inc. now owns 2,889,978 shares of the Wireless communications provider’s stock worth $134,790,000 after purchasing an additional 2,446,191 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Rogers Communications by 20.4% in the 4th quarter. 1832 Asset Management L.P. now owns 9,028,468 shares of the Wireless communications provider’s stock worth $429,508,000 after purchasing an additional 1,531,445 shares in the last quarter. National Bank of Canada FI bought a new position in Rogers Communications in the 4th quarter worth about $67,140,000. Finally, Toronto Dominion Bank boosted its stake in Rogers Communications by 21.0% in the 3rd quarter. Toronto Dominion Bank now owns 5,980,742 shares of the Wireless communications provider’s stock worth $303,850,000 after purchasing an additional 1,036,408 shares in the last quarter. Hedge funds and other institutional investors own 42.50% of the company’s stock.

Rogers Communications Company Profile (Get Rating)

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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

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