Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, July 12th. The firm presently has a $53.00 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.95% from the stock’s previous close.
According to Zacks, “Rogers Communications continues to remain the first wireless operator in Canada to offer Internet of Things as a service to business enterprises. The company’s wireless and cable segment has been doing well with huge wireless and high-speed internet subscriber gain. Rogers' Media arm inked two important deals – one with The Weather Company and an extended deal with Iowa-based media conglomerate company, Meredith Corporation. Over the past three months, the stock price grew 4.61% while the Zacks Cable TV industry moved down 1.13%. The company has maintained its position as the largest integrated-telecom operator in Canada. On the other hand, the company operates in an intensely competitive wireless and cable TV industry. Moreover, continuous softness in the advertising market, declining cash flow and loss of viewers to video streaming service providers remain potent headwinds.”
Other research analysts also recently issued reports about the company. BidaskClub upgraded Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Canaccord Genuity set a $66.00 price objective on Rogers Communication and gave the stock a “buy” rating in a report on Wednesday, April 19th. Finally, CIBC downgraded Rogers Communication from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, April 5th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $54.67.
Shares of Rogers Communication (RCI) traded up 0.20% on Wednesday, reaching $50.50. The company had a trading volume of 256,604 shares. The firm has a market capitalization of $26.00 billion, a price-to-earnings ratio of 31.52 and a beta of 0.86. Rogers Communication has a 1-year low of $37.03 and a 1-year high of $53.07. The firm has a 50-day moving average price of $49.83 and a 200 day moving average price of $45.84.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.59 billion. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. Rogers Communication’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. Equities research analysts predict that Rogers Communication will post $2.72 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Rogers Communication by 7.8% in the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after buying an additional 173 shares during the period. US Bancorp DE boosted its stake in shares of Rogers Communication by 8.8% in the first quarter. US Bancorp DE now owns 3,429 shares of the Wireless communications provider’s stock worth $152,000 after buying an additional 278 shares during the period. Barometer Capital Management Inc. acquired a new stake in shares of Rogers Communication during the first quarter worth $168,000. Wetherby Asset Management Inc. acquired a new stake in shares of Rogers Communication during the second quarter worth $203,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Rogers Communication during the first quarter worth $288,000. 47.73% of the stock is owned by hedge funds and other institutional investors.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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