Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) had its target price reduced by equities research analysts at National Bank Financial from C$77.00 to C$75.00 in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other equities analysts have also recently weighed in on the stock. Scotiabank lowered their price objective on shares of Rogers Communications from C$73.00 to C$72.50 in a research report on Tuesday, September 6th. Royal Bank of Canada lowered their price objective on shares of Rogers Communications from C$75.00 to C$73.00 in a research report on Thursday, July 28th. Canaccord Genuity Group decreased their price target on shares of Rogers Communications from C$69.00 to C$68.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. CIBC reduced their price objective on shares of Rogers Communications from C$77.00 to C$75.00 in a report on Friday, September 2nd. Finally, Desjardins reduced their price objective on shares of Rogers Communications from C$80.00 to C$79.00 in a report on Friday, July 29th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.45.
Rogers Communications Price Performance
Shares of RCI traded down $0.73 during mid-day trading on Thursday, hitting $38.92. 8,929 shares of the company were exchanged, compared to its average volume of 476,843. The stock has a market cap of $19.65 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 2.26 and a beta of 0.45. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.43 and a current ratio of 2.49. Rogers Communications has a 1-year low of $38.99 and a 1-year high of $64.55. The company has a 50 day moving average of $43.77 and a 200-day moving average of $49.02.
Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, July 27th. The Wireless communications provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. Rogers Communications had a net margin of 11.26% and a return on equity of 18.10%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.94 billion. Analysts expect that Rogers Communications will post 2.88 EPS for the current fiscal year.
Hedge Funds Weigh In On Rogers Communications
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Rogers Communications by 2.1% in the first quarter. Vanguard Group Inc. now owns 11,396,833 shares of the Wireless communications provider’s stock valued at $646,770,000 after buying an additional 238,829 shares during the last quarter. 1832 Asset Management L.P. increased its position in Rogers Communications by 8.8% during the first quarter. 1832 Asset Management L.P. now owns 9,826,574 shares of the Wireless communications provider’s stock worth $549,325,000 after purchasing an additional 798,106 shares during the last quarter. FMR LLC increased its position in Rogers Communications by 19.1% during the second quarter. FMR LLC now owns 7,914,046 shares of the Wireless communications provider’s stock worth $379,225,000 after purchasing an additional 1,271,206 shares during the last quarter. Bank of Nova Scotia increased its position in Rogers Communications by 8.8% during the second quarter. Bank of Nova Scotia now owns 7,046,637 shares of the Wireless communications provider’s stock worth $337,807,000 after purchasing an additional 568,343 shares during the last quarter. Finally, CIBC World Markets Inc. increased its position in Rogers Communications by 5.1% during the fourth quarter. CIBC World Markets Inc. now owns 4,282,077 shares of the Wireless communications provider’s stock worth $203,955,000 after purchasing an additional 207,585 shares during the last quarter. Institutional investors and hedge funds own 44.35% of the company’s stock.
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 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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