Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) had its price target increased by investment analysts at Morgan Stanley from $67.00 to $71.00 in a research note issued on Friday. The firm currently has an “equal weight” rating on the Wireless communications provider’s stock. Morgan Stanley’s target price indicates a potential upside of 32.34% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised Rogers Communication from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, October 24th. TheStreet raised Rogers Communication from a “c+” rating to a “b” rating in a research note on Thursday, October 19th. Finally, Barclays PLC raised their price objective on 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 analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Rogers Communication currently has an average rating of “Hold” and a consensus target price of $61.80.

Shares of Rogers Communication (RCI) traded up $0.27 during trading hours on Friday, hitting $53.65. The stock had a trading volume of 263,078 shares, compared to its average volume of 308,396. Rogers Communication has a 52-week low of $37.81 and a 52-week high of $54.24. The company has a market capitalization of $27,630.00, a PE ratio of 20.94, a P/E/G ratio of 3.90 and a beta of 0.94. The company has a quick ratio of 0.38, a current ratio of 0.41 and a debt-to-equity ratio of 2.01.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data 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 the consensus estimate of $3.63 billion. During the same period last year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. research analysts expect that Rogers Communication will post 2.72 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This report was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/11/17/rogers-communication-inc-rci-given-new-71-00-price-target-at-morgan-stanley.html.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its stake in shares of Rogers Communication by 7.8% in the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after purchasing an additional 173 shares during the last quarter. US Bancorp DE grew its stake in shares of Rogers Communication by 14.6% in the second quarter. US Bancorp DE now owns 3,930 shares of the Wireless communications provider’s stock worth $185,000 after purchasing an additional 501 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Rogers Communication in the third quarter worth about $205,000. Fort Pitt Capital Group LLC bought a new stake in shares of Rogers Communication in the third quarter worth about $211,000. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Rogers Communication in the second quarter worth about $203,000. 47.31% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Rogers Communication (NYSE:RCI)

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 MarketBeat.com's FREE daily email newsletter.