Rogers Communications (NYSE:RCI) PT Raised to $74.00 at TD Securities

by · The Markets Daily

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) had its price objective boosted by stock analysts at TD Securities from $73.00 to $74.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the Wireless communications provider’s stock. TD Securities’ target price would suggest a potential upside of 83.35% from the stock’s previous close.

A number of other research analysts have also recently issued reports on RCI. Canaccord Genuity Group reiterated a “hold” rating and set a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their price objective on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, StockNews.com upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.75.

Read Our Latest Report on RCI

Rogers Communications Trading Up 1.3 %

RCI opened at $40.36 on Thursday. The stock has a market cap of $21.39 billion, a PE ratio of 50.45, a PEG ratio of 1.06 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58. The business has a 50 day moving average of $39.47 and a 200-day moving average of $39.38. Rogers Communications has a 52 week low of $35.55 and a 52 week high of $48.19.

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.33. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. Equities research analysts predict that Rogers Communications will post 3.59 earnings per share for the current fiscal year.

Institutional Trading of Rogers Communications

Institutional investors and hedge funds have recently modified their holdings of the business. Ridgewood Investments LLC bought a new stake in shares of Rogers Communications in the 2nd quarter worth $37,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 522 shares during the period. Headlands Technologies LLC bought a new stake in shares of Rogers Communications in the first quarter worth $42,000. Acadian Asset Management LLC bought a new stake in shares of Rogers Communications in the second quarter worth $55,000. Finally, CWM LLC grew its holdings in shares of Rogers Communications by 342.3% in the second quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock worth $67,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 45.49% of the company’s stock.

About Rogers Communications

(Get Free Report)

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 financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.

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