Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $59.00 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.11% from the company’s current price.

According to Zacks, “Rogers Communications posted mixed third-quarter 2017 financial results, with the bottom line beating the Zacks Consensus Estimate while the top line missed the same. The company’s wireless and cable segment has been doing well with huge wireless and high-speed internet subscriber gain. We are bullish about the company’s wireless growth from the roll out of lower block spectrum and offering of Internet of Things as a service to business enterprises. Over the past three months, the stock price grew 2.1% beating the industry's loss of 5.4%. The company has maintained its position as the largest integrated-telecom operator in Canada. On the other hand, the company operates in an intensely competitive wireless and cable TV industry. Also, continuous softness in the advertising market, declining cash flow and loss of viewers to video streaming service providers remain potent headwinds.”

Several other equities research analysts have also weighed in on RCI. BidaskClub raised shares of Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Morgan Stanley increased their price objective on shares of Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, August 25th. Barclays PLC increased their price objective on shares of Rogers Communication from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, TheStreet raised shares of Rogers Communication from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.00.

Rogers Communication (NYSE RCI) traded up 0.98% during mid-day trading on Tuesday, hitting $53.62. 137,564 shares of the company’s stock were exchanged. The stock has a market capitalization of $27.60 billion, a P/E ratio of 32.42 and a beta of 0.86. Rogers Communication has a 52 week low of $37.03 and a 52 week high of $54.24. The firm has a 50 day moving average of $52.37 and a 200 day moving average of $49.25.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.19). Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that Rogers Communication will post $2.74 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of the business. NGAM Advisors L.P. grew its holdings in Rogers Communication by 0.3% during the 2nd quarter. NGAM Advisors L.P. now owns 25,788 shares of the Wireless communications provider’s stock worth $1,217,000 after acquiring an additional 81 shares during the last quarter. Creative Planning grew its holdings in Rogers Communication by 7.8% during the 2nd quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after acquiring an additional 173 shares during the last quarter. AXA grew its holdings in Rogers Communication by 1.8% during the 2nd quarter. AXA now owns 27,848 shares of the Wireless communications provider’s stock worth $1,315,000 after acquiring an additional 500 shares during the last quarter. US Bancorp DE grew its holdings in Rogers Communication by 14.6% during the 2nd quarter. US Bancorp DE now owns 3,930 shares of the Wireless communications provider’s stock worth $185,000 after acquiring an additional 501 shares during the last quarter. Finally, Everett Harris & Co. CA grew its holdings in Rogers Communication by 1.8% during the 2nd quarter. Everett Harris & Co. CA now owns 31,845 shares of the Wireless communications provider’s stock worth $1,503,000 after acquiring an additional 565 shares during the last quarter. 47.54% 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, 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.

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