Rogers Communication Inc. (RCI) Reaches New 12-Month High at $44.43
Rogers Communication Inc. (NYSE:RCI)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $44.43 and last traded at $44.19, with a volume of 107,405 shares traded. The stock had previously closed at $43.63.
RCI has been the subject of several recent analyst reports. National Bank Financial raised Rogers Communication from a “neutral” rating to a “buy” rating in a research report on Thursday, April 7th. Bank of America Corp. initiated coverage on Rogers Communication in a research report on Tuesday, July 5th. They issued a “neutral” rating for the company. Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Friday, June 17th. Royal Bank Of Canada lowered their price target on Rogers Communication from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Tuesday, April 19th. Finally, Zacks Investment Research lowered Rogers Communication from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Rogers Communication has an average rating of “Buy” and a consensus target price of C$49.11.
The stock’s 50 day moving average price is $40.78 and its 200-day moving average price is $38.31. The stock has a market capitalization of $22.74 billion and a price-to-earnings ratio of 21.47.
Rogers Communication (NYSE:RCI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $3.46 billion for 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. During the same quarter last year, the company earned $0.80 earnings per share. Analysts anticipate that Rogers Communication Inc. will post $2.25 earnings per share for the current year.
Other large investors recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in shares of Rogers Communication by 26.2% in the fourth quarter. Advisors Asset Management Inc. now owns 76,527 shares of the company’s stock worth $2,637,000 after buying an additional 15,881 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Rogers Communication by 2.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 109,537 shares of the company’s stock worth $3,780,000 after buying an additional 2,500 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Rogers Communication by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 119,005 shares of the company’s stock worth $4,101,000 after buying an additional 6,300 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Rogers Communication by 48.6% in the fourth quarter. Morgan Stanley now owns 991,455 shares of the company’s stock worth $34,166,000 after buying an additional 324,468 shares during the period.
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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