Barclays PLC Reiterates “$40.00” Price Target for Rogers Communication Inc. (RCI)
Rogers Communication Inc. (NYSE:RCI) has been given a $40.00 price objective by Barclays PLC in a note issued to investors on Friday. The firm presently has a a “hold” rating on the stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Rogers Communication from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th. TheStreet upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. TD Securities reiterated a “buy” rating and issued a $58.00 price target on shares of Rogers Communication in a report on Wednesday, July 6th. Canaccord Genuity reiterated a “hold” rating on shares of Rogers Communication in a report on Tuesday, July 19th. Finally, Bank of America Corp. started coverage on shares of Rogers Communication in a report on Tuesday, July 5th. They issued a “neutral” rating for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Rogers Communication currently has an average rating of “Buy” and a consensus price target of C$50.00.
Rogers Communication (NYSE:RCI) traded up 0.39% on Friday, reaching $41.49. 362,604 shares of the company were exchanged. The firm has a market capitalization of $21.36 billion, a PE ratio of 20.16 and a beta of 0.87. The stock has a 50 day moving average of $42.29 and a 200 day moving average of $40.89. Rogers Communication has a 12-month low of $32.50 and a 12-month high of $45.50.
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Rogers Communication (NYSE:RCI) last issued its quarterly earnings data on Monday, October 17th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.03. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.45 billion. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. Equities analysts anticipate that Rogers Communication will post $2.21 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Sunday, September 11th were given a dividend of $0.48 per share. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend was Wednesday, September 7th. Rogers Communication’s dividend payout ratio is 71.36%.
A number of hedge funds have recently bought and sold shares of RCI. AMP Capital Investors Ltd raised its stake in Rogers Communication by 1.7% in the first quarter. AMP Capital Investors Ltd now owns 160,760 shares of the company’s stock valued at $6,485,000 after buying an additional 2,674 shares during the period. Renaissance Technologies LLC raised its position in shares of Rogers Communication by 34.4% in the first quarter. Renaissance Technologies LLC now owns 537,500 shares of the company’s stock valued at $21,519,000 after buying an additional 137,700 shares during the last quarter. Prudential PLC raised its position in shares of Rogers Communication by 44.5% in the first quarter. Prudential PLC now owns 25,000 shares of the company’s stock valued at $1,001,000 after buying an additional 7,700 shares during the last quarter. PCJ Investment Counsel Ltd. raised its position in shares of Rogers Communication by 23.5% in the first quarter. PCJ Investment Counsel Ltd. now owns 507,416 shares of the company’s stock valued at $20,399,000 after buying an additional 96,596 shares during the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Rogers Communication by 137.5% in the first quarter. Quadrature Capital Ltd now owns 20,900 shares of the company’s stock valued at $835,000 after buying an additional 12,100 shares during the last quarter. 49.28% of the stock is currently owned by hedge funds and other institutional investors.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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