Rogers Communication (NYSE:RCI) Price Target Raised to $36.00 at Barclays

Rogers Communication (NYSE:RCI) (TSE:RCI.B) had its price target lifted by investment analysts at Barclays from $35.00 to $36.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an “equal weight” rating on the Wireless communications provider’s stock. Barclays‘s target price indicates a potential downside of 1.95% from the company’s current price.

RCI has been the subject of several other reports. Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. Desjardins lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Wall Street Zen upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communication has a consensus rating of “Hold” and an average price target of $36.00.

Rogers Communication Price Performance

Shares of NYSE RCI traded up $0.23 during trading hours on Tuesday, hitting $36.72. 742,545 shares of the stock were exchanged, compared to its average volume of 956,175. The company’s fifty day simple moving average is $37.21 and its two-hundred day simple moving average is $36.27. The company has a market cap of $19.83 billion, a PE ratio of 4.08, a price-to-earnings-growth ratio of 2.78 and a beta of 0.75. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.59 and a current ratio of 0.62. Rogers Communication has a 1-year low of $23.18 and a 1-year high of $40.26.

Institutional Trading of Rogers Communication

Several institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its position in Rogers Communication by 2.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider’s stock worth $340,428,000 after purchasing an additional 282,609 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Rogers Communication by 2.3% in the third quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider’s stock valued at $291,526,000 after buying an additional 186,510 shares during the period. TD Asset Management Inc raised its position in shares of Rogers Communication by 18.0% during the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after acquiring an additional 1,272,065 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Rogers Communication by 7.0% in the third quarter. Mackenzie Financial Corp now owns 8,161,532 shares of the Wireless communications provider’s stock worth $280,904,000 after acquiring an additional 536,623 shares during the period. Finally, Letko Brosseau & Associates Inc. boosted its holdings in Rogers Communication by 14.8% in the second quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock valued at $199,922,000 after acquiring an additional 868,800 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.