Rogers Communications Lowered to Neutral at Macquarie (RCI)
Rogers Communications (NYSE:RCI) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Rogers Communications (NYSE:RCI) traded down 2.80% on Thursday, hitting $44.10. 190,176 shares of the company’s stock traded hands. Rogers Communications has a 52-week low of $38.32 and a 52-week high of $51.98. The stock’s 50-day moving average is $40.28 and its 200-day moving average is $44.86. The company has a market cap of $22.700 billion and a price-to-earnings ratio of 12.22.
Rogers Communications (NYSE:RCI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.97 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.97. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that Rogers Communications will post $3.52 earnings per share for the current fiscal year.
RCI has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Rogers Communications in a research note to investors on Friday, September 27th. They now have a $46.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Rogers Communications in a research note to investors on Friday, September 20th. They set an “overweight” rating on the stock. Finally, analysts at Bank of America Corp. upgraded shares of Rogers Communications from a “neutral” rating to a “buy” rating in a research note to investors on Friday, July 26th. They now have a $45.50 price target on the stock, down previously from $48.75. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.00.
Rogers Communications Inc (NYSE:RCI) is a diversified public Canadian communications and media company.
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