Rogers Communication Inc. (RCI) Reaches New 52-Week High at $44.67
Rogers Communication Inc. (NYSE:RCI)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $44.67 and last traded at $44.58, with a volume of 106,019 shares trading hands. The stock had previously closed at $44.21.
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Rogers Communication from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Canaccord Genuity restated a “hold” rating on shares of Rogers Communication in a research note on Tuesday, July 19th. Scotiabank restated an “outperform” rating and issued a $56.00 price target on shares of Rogers Communication in a research note on Wednesday, June 15th. Bank of America Corp. assumed coverage on Rogers Communication in a research note on Tuesday, July 5th. They issued a “neutral” rating for the company. Finally, Royal Bank Of Canada cut their price target on Rogers Communication from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, April 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of C$49.11.
The company has a market cap of $22.92 billion and a price-to-earnings ratio of 21.32. The firm has a 50-day moving average of $41.69 and a 200 day moving average of $38.77.
Rogers Communication (NYSE:RCI) last announced its earnings results on Thursday, July 21st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.47 billion. Rogers Communication’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.80 EPS. On average, equities analysts predict that Rogers Communication Inc. will post $2.23 earnings per share for the current year.
Several large investors have made changes to their positions in RCI. Advisors Asset Management Inc. increased 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 valued at $2,637,000 after buying an additional 15,881 shares during the period. Dimensional Fund Advisors LP increased 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 last quarter. Finally, Morgan Stanley increased 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 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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