Rogers Communication Inc. (RCI) Hits New 52-Week High at $44.67
Rogers Communication Inc. (NYSE:RCI) shares 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 traded. The stock had previously closed at $44.21.
Several analysts have 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. TheStreet upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Canaccord Genuity reiterated a “hold” rating on shares of Rogers Communication in a research note on Tuesday, July 19th. TD Securities reiterated a “buy” rating and set a $58.00 price target on shares of Rogers Communication in a research note on Wednesday, July 6th. Finally, Bank of America Corp. assumed coverage on Rogers Communication in a research note on Tuesday, July 5th. They set a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of C$49.11.
The firm has a 50-day moving average price of $41.97 and a 200-day moving average price of $38.89. The firm has a market capitalization of $23.12 billion and a P/E ratio of 21.50.
Rogers Communication (NYSE:RCI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. During the same period in the previous year, the business posted $0.80 EPS. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’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 $2.23 earnings per share for the current fiscal year.
Other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position 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 valued at $4,101,000 after buying an additional 6,300 shares during the last quarter. Advisors Asset Management Inc. raised its position 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 last quarter. Finally, Morgan Stanley raised its position in shares of 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.