Royal Bank of Canada Raises Rogers Communications (NYSE:RCI) Price Target to C$77.00

Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) had its price target hoisted by analysts at Royal Bank of Canada from C$75.00 to C$77.00 in a research note issued to investors on Thursday, The Fly reports.

A number of other research firms also recently commented on RCI. JPMorgan Chase & Co. boosted their price objective on Rogers Communications from C$78.00 to C$90.00 in a research note on Thursday. Desjardins raised Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, January 28th. BMO Capital Markets boosted their target price on Rogers Communications from C$68.00 to C$72.00 in a research note on Friday, January 28th. Canaccord Genuity Group upped their price target on Rogers Communications from C$65.00 to C$69.00 and gave the stock a “hold” rating in a research note on Thursday, April 14th. Finally, CIBC raised Rogers Communications from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $76.20.

NYSE:RCI traded down $1.27 during midday trading on Thursday, reaching $59.62. 18,557 shares of the company traded hands, compared to its average volume of 348,789. Rogers Communications has a twelve month low of $44.19 and a twelve month high of $64.55. The firm has a market capitalization of $30.10 billion, a price-to-earnings 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 company has a fifty day moving average price of $54.70 and a 200 day moving average price of $50.18.

Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 20th. The Wireless communications provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.09. Rogers Communications had a return on equity of 17.45% and a net margin of 10.62%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Rogers Communications will post 3.12 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Stonehage Fleming Financial Services Holdings Ltd raised its position in shares of Rogers Communications by 53.7% in the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 764 shares of the Wireless communications provider’s stock valued at $36,000 after buying an additional 267 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Rogers Communications in the fourth quarter worth $49,000. Spire Wealth Management grew its stake in shares of Rogers Communications by 89.6% in the fourth quarter. Spire Wealth Management now owns 1,426 shares of the Wireless communications provider’s stock worth $68,000 after purchasing an additional 674 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in Rogers Communications by 25.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,544 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 514 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Rogers Communications by 36.9% during the fourth quarter. Signaturefd LLC now owns 3,558 shares of the Wireless communications provider’s stock valued at $169,000 after acquiring an additional 959 shares during the last quarter. Institutional investors own 42.50% of the company’s stock.

About Rogers Communications (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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