Rogers Communications (NYSE:RCI) (TSE:RCI.B) was upgraded by equities researchers at Desjardins from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports.
Several other equities analysts have also recently weighed in on the stock. TD Securities cut their target price on shares of Rogers Communications from C$72.00 to C$70.00 and set a “buy” rating for the company in a research note on Thursday, November 18th. CIBC raised shares of Rogers Communications from a “neutral” rating to an “outperform” rating in a research note on Tuesday. TheStreet upgraded shares of Rogers Communications from a “c+” rating to a “b-” rating in a research report on Friday, October 22nd. BMO Capital Markets increased their price objective on shares of Rogers Communications from C$68.00 to C$72.00 and gave the company an “outperform” rating in a research report on Friday, October 22nd. Finally, lowered their price objective on shares of Rogers Communications from C$70.00 to C$69.00 and set a “buy” rating for the company in a research report on Friday, October 22nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $69.33.
Shares of NYSE RCI opened at $50.11 on Friday. The firm has a fifty day moving average price of $47.13 and a 200-day moving average price of $48.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.78 and a quick ratio of 0.73. The stock has a market cap of $25.30 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.36 and a beta of 0.50. Rogers Communications has a 1 year low of $43.18 and a 1 year high of $53.90.
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Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, January 26th. The Wireless communications provider reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.22. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Rogers Communications had a net margin of 11.09% and a return on equity of 18.12%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 earnings per share. On average, research analysts expect that Rogers Communications will post 2.83 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. AXA S.A. lifted its holdings in Rogers Communications by 33.5% during the 2nd quarter. AXA S.A. now owns 427,531 shares of the Wireless communications provider’s stock valued at $22,719,000 after buying an additional 107,384 shares in the last quarter. Marshall Wace LLP increased its position in Rogers Communications by 1,146.5% during the 2nd quarter. Marshall Wace LLP now owns 115,697 shares of the Wireless communications provider’s stock valued at $6,157,000 after purchasing an additional 106,415 shares during the period. 1832 Asset Management L.P. increased its position in Rogers Communications by 2.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,517,049 shares of the Wireless communications provider’s stock valued at $397,485,000 after purchasing an additional 152,904 shares during the period. Geode Capital Management LLC increased its position in Rogers Communications by 12.0% during the 2nd quarter. Geode Capital Management LLC now owns 874,678 shares of the Wireless communications provider’s stock valued at $47,166,000 after purchasing an additional 93,792 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Rogers Communications during the 2nd quarter valued at about $20,908,000. Institutional investors own 42.28% 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, text messaging, 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 10.9 million subscribers.
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