Rogers Communications (NYSE:RCI) Price Target Increased to $74.00 by Analysts at TD Securities

Rogers Communications (NYSE:RCI) (TSE:RCI.B) had its target price upped by analysts at TD Securities from $73.00 to $74.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the Wireless communications provider’s stock. TD Securities’ price target indicates a potential upside of 85.74% from the company’s previous close.

RCI has been the topic of a number of other research reports. Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets lifted their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Stock Performance

NYSE RCI traded up $0.19 during trading on Thursday, reaching $39.84. 285,528 shares of the company’s stock were exchanged, compared to its average volume of 726,100. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60. The business has a 50 day moving average price of $39.35 and a 200-day moving average price of $39.41. The stock has a market capitalization of $21.12 billion, a P/E ratio of 49.80, a PEG ratio of 1.06 and a beta of 0.67. Rogers Communications has a fifty-two week low of $35.55 and a fifty-two week high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the firm earned $0.76 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Sell-side analysts forecast that Rogers Communications will post 3.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC bought a new stake in shares of Rogers Communications during the second quarter worth $37,000. Northwestern Mutual Wealth Management Co. grew its position in Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 522 shares during the last quarter. Headlands Technologies LLC bought a new stake in Rogers Communications during the 1st quarter worth $42,000. Acadian Asset Management LLC acquired a new position in Rogers Communications in the 2nd quarter worth about $55,000. Finally, CWM LLC raised its position in Rogers Communications by 342.3% in the second quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock valued at $67,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.