Rogers Communication Inc. (NYSE:RCI) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $44.43 and last traded at $44.19, with a volume of 107,405 shares trading hands. The stock had previously closed at $43.63.

A number of research firms have recently commented on RCI. Royal Bank Of Canada cut their target price on Rogers Communication from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 19th. Zacks Investment Research raised Rogers Communication from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a research note on Tuesday, April 19th. TD Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Rogers Communication in a research note on Wednesday, July 6th. Finally, National Bank Financial raised Rogers Communication from a “neutral” rating to a “buy” rating in a research note on Thursday, April 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of C$49.11.

The stock’s 50 day moving average is $40.64 and its 200 day moving average is $38.23. The company has a market cap of $22.74 billion and a price-to-earnings ratio of 21.23.

Rogers Communication (NYSE:RCI) last released its earnings results on Thursday, July 21st. The company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. During the same period last year, the business earned $0.80 earnings per share. The business earned $3.46 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts forecast that Rogers Communication Inc. will post $2.21 earnings per share for the current fiscal year.

Other hedge funds have recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd raised its stake in Rogers Communication by 2.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 109,537 shares of the company’s stock valued at $3,780,000 after buying an additional 2,500 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Rogers Communication by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 119,005 shares of the company’s stock valued at $4,101,000 after buying an additional 6,300 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Rogers Communication by 26.2% in the fourth quarter. Advisors Asset Management Inc. now owns 76,527 shares of the company’s stock valued at $2,637,000 after buying an additional 15,881 shares during the last quarter. OppenheimerFunds Inc. raised its stake in Rogers Communication by 20.1% in the fourth quarter. OppenheimerFunds Inc. now owns 648,005 shares of the company’s stock valued at $22,348,000 after buying an additional 108,589 shares during the last quarter. Finally, Morgan Stanley raised its stake in Rogers Communication by 48.6% in the fourth quarter. Morgan Stanley now owns 991,455 shares of the company’s stock valued at $34,166,000 after buying an additional 324,468 shares during the last quarter.

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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