Morgan Stanley Boosts Rogers Communication, Inc. (RCI) Price Target to $71.00
Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) had its price target boosted by Morgan Stanley from $67.00 to $71.00 in a research report sent to investors on Friday. They currently have an equal weight rating on the Wireless communications provider’s stock.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Rogers Communication from a buy rating to a hold rating in a research report on Wednesday, November 8th. TheStreet upgraded shares of Rogers Communication from a c+ rating to a b rating in a research report on Thursday, October 19th. Finally, Barclays PLC boosted their price target on shares of Rogers Communication from $56.00 to $58.00 and gave the company an equal weight rating in a research note on Friday, October 20th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $61.80.
Rogers Communication (NYSE:RCI) opened at $53.65 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.38 and a current ratio of 0.41. Rogers Communication has a 1 year low of $37.81 and a 1 year high of $54.24. The stock has a market cap of $27,619.56, a price-to-earnings ratio of 21.21, a P/E/G ratio of 3.94 and a beta of 0.93.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.19). Rogers Communication had a net margin of 9.20% and a return on equity of 30.40%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. research analysts expect that Rogers Communication will post 2.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be paid a $0.48 dividend. The ex-dividend date is Friday, December 8th. This represents a $1.92 annualized dividend and a dividend yield of 3.58%. Rogers Communication’s payout ratio is 81.48%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning grew its position in Rogers Communication by 7.8% during the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock valued at $113,000 after buying an additional 173 shares during the period. US Bancorp DE grew its position in Rogers Communication by 14.6% during the second quarter. US Bancorp DE now owns 3,930 shares of the Wireless communications provider’s stock valued at $185,000 after buying an additional 501 shares during the period. Wetherby Asset Management Inc. bought a new position in Rogers Communication during the second quarter valued at about $203,000. Trexquant Investment LP bought a new position in Rogers Communication during the third quarter valued at about $205,000. Finally, Fort Pitt Capital Group LLC bought a new position in Rogers Communication during the third quarter valued at about $211,000. Hedge funds and other institutional investors own 46.93% of the company’s stock.
About Rogers Communication
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.
Receive News & Ratings for Rogers Communication Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communication Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.