Rogers Communications (NYSE:RCI) Price Target Lowered to C$76.00 at Royal Bank of Canada

Rogers Communications (NYSE:RCI) (TSE:RCI.B) had its price target reduced by investment analysts at Royal Bank of Canada from C$77.00 to C$76.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the Wireless communications provider’s stock.

RCI has been the topic of several other research reports. Desjardins increased their price target on shares of Rogers Communications from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, April 23rd. Canaccord Genuity reduced their price target on shares of Rogers Communications from $72.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, April 22nd. Zacks Investment Research cut shares of Rogers Communications from a “buy” rating to a “hold” rating and set a $55.00 price target on the stock. in a research report on Monday, June 28th. National Bank Financial reaffirmed an “outperform” rating on shares of Rogers Communications in a research report on Thursday, April 22nd. Finally, Scotiabank increased their price objective on shares of Rogers Communications from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 19th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $69.78.

NYSE:RCI traded down $0.35 on Thursday, reaching $50.91. The stock had a trading volume of 3,659 shares, compared to its average volume of 241,508. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. The stock’s 50-day moving average price is $52.16. The company has a market cap of $25.71 billion, a PE ratio of 21.39, a P/E/G ratio of 2.29 and a beta of 0.50. Rogers Communications has a 12-month low of $37.84 and a 12-month high of $53.90.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Tuesday, July 20th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.13. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Rogers Communications had a net margin of 11.46% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. As a group, equities analysts predict that Rogers Communications will post 3.06 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in RCI. Amundi Pioneer Asset Management Inc. increased its stake in shares of Rogers Communications by 20.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 291,120 shares of the Wireless communications provider’s stock valued at $15,668,000 after purchasing an additional 48,530 shares during the period. FIL Ltd increased its stake in shares of Rogers Communications by 84.8% in the fourth quarter. FIL Ltd now owns 21,722,485 shares of the Wireless communications provider’s stock valued at $1,011,293,000 after purchasing an additional 9,968,026 shares during the period. Barclays PLC increased its stake in shares of Rogers Communications by 91.3% in the fourth quarter. Barclays PLC now owns 4,411 shares of the Wireless communications provider’s stock valued at $205,000 after purchasing an additional 2,105 shares during the period. Northern Trust Corp increased its stake in shares of Rogers Communications by 5.3% in the fourth quarter. Northern Trust Corp now owns 374,913 shares of the Wireless communications provider’s stock valued at $17,468,000 after purchasing an additional 18,851 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Rogers Communications by 785.9% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 24,461 shares of the Wireless communications provider’s stock valued at $1,139,000 after purchasing an additional 21,700 shares during the period. Institutional investors own 43.57% of the company’s stock.

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 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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