Brokerages Set Rogers Communications Inc. (NYSE:RCI) Price Target at $61.75

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $61.75.

A number of research firms have commented on RCI. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. Finally, Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday.

Rogers Communications Trading Down 0.6 %

Shares of RCI opened at $28.10 on Thursday. Rogers Communications has a 12-month low of $27.63 and a 12-month high of $48.19. The firm has a market capitalization of $15.02 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.05 and a beta of 0.69. The firm has a 50-day moving average price of $32.50 and a 200 day moving average price of $36.59. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. Sell-side analysts forecast that Rogers Communications will post 3.47 EPS for the current year.

Hedge Funds Weigh In On Rogers Communications

Several institutional investors have recently bought and sold shares of RCI. 1832 Asset Management L.P. boosted its stake in shares of Rogers Communications by 2.6% in the second quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock valued at $425,341,000 after purchasing an additional 288,614 shares during the period. Mackenzie Financial Corp boosted its position in Rogers Communications by 10.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after buying an additional 974,937 shares during the period. Toronto Dominion Bank grew its stake in shares of Rogers Communications by 53.9% in the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after acquiring an additional 2,206,690 shares in the last quarter. National Bank of Canada FI increased its position in shares of Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after acquiring an additional 977,924 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after acquiring an additional 3,980,525 shares in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

About Rogers Communications

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.