Rogers Communications (NYSE:RCI) Price Target Raised to C$87.00

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) had its price objective hoisted by analysts at TD Securities from C$75.00 to C$87.00 in a research report issued on Thursday, The Fly reports.

A number of other equities analysts also recently commented on RCI. Scotiabank raised their price objective on shares of Rogers Communications from C$80.00 to C$87.00 in a report on Wednesday, April 13th. JPMorgan Chase & Co. raised their price objective on shares of Rogers Communications from C$78.00 to C$90.00 in a research report on Thursday. National Bank Financial lifted their price target on shares of Rogers Communications from C$74.00 to C$77.00 in a research report on Thursday, March 31st. Canaccord Genuity Group lifted their price target on shares of Rogers Communications from C$65.00 to C$69.00 and gave the stock a “hold” rating in a research report on Thursday, April 14th. Finally, Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, January 28th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $75.40.

Rogers Communications stock traded down $1.29 during trading hours on Thursday, hitting $59.60. The company had a trading volume of 18,237 shares, compared to its average volume of 348,789. The firm has a market capitalization of $30.09 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 2.83 and a beta of 0.47. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.68 and a quick ratio of 0.61. The firm’s fifty day moving average is $54.70 and its 200-day moving average is $50.18. Rogers Communications has a fifty-two week low of $44.19 and a fifty-two week high of $64.55.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, April 20th. The Wireless communications provider reported $0.91 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the business posted $0.61 EPS. Rogers Communications’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Rogers Communications will post 3.12 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in RCI. Amundi Pioneer Asset Management Inc. boosted its stake in Rogers Communications by 20.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 291,120 shares of the Wireless communications provider’s stock worth $15,668,000 after acquiring an additional 48,530 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Rogers Communications during the 3rd quarter worth approximately $232,000. Raymond James & Associates boosted its stake in Rogers Communications by 536.3% during the 3rd quarter. Raymond James & Associates now owns 130,461 shares of the Wireless communications provider’s stock worth $6,084,000 after acquiring an additional 109,957 shares during the last quarter. Everett Harris & Co. CA lifted its stake in Rogers Communications by 19.4% in the third quarter. Everett Harris & Co. CA now owns 58,475 shares of the Wireless communications provider’s stock valued at $2,727,000 after buying an additional 9,505 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in Rogers Communications by 1.0% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 262,460 shares of the Wireless communications provider’s stock valued at $28,539,000 after buying an additional 2,600 shares in the last quarter. 42.50% of the stock is currently owned by institutional investors and hedge funds.

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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