Analysts Set Rogers Communication, Inc. (NYSE:RCI) Price Target at $36.00

Shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) have earned an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $36.00.

RCI has been the topic of several research reports. Barclays reiterated a “positive” rating and issued a $37.00 price target on shares of Rogers Communication in a research report on Tuesday. Morgan Stanley reiterated an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. Desjardins downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a report on Friday, December 26th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th.

Institutional Investors Weigh In On Rogers Communication

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Nova Scotia lifted its holdings in shares of Rogers Communication by 3.5% during the 2nd quarter. Bank of Nova Scotia now owns 8,279,443 shares of the Wireless communications provider’s stock worth $245,489,000 after acquiring an additional 280,536 shares during the period. CIBC Asset Management Inc grew its holdings in Rogers Communication by 261.2% in the third quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after purchasing an additional 1,520,062 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Rogers Communication during the second quarter worth approximately $328,000. Fiera Capital Corp increased its position in Rogers Communication by 56.1% during the second quarter. Fiera Capital Corp now owns 78,335 shares of the Wireless communications provider’s stock worth $2,322,000 after purchasing an additional 28,163 shares during the last quarter. Finally, JCIC Asset Management Inc. purchased a new position in Rogers Communication during the third quarter worth approximately $4,253,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Stock Performance

NYSE:RCI opened at $36.28 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average price of $37.13 and a two-hundred day moving average price of $36.30. Rogers Communication has a twelve month low of $23.18 and a twelve month high of $40.26. The company has a market capitalization of $19.60 billion, a P/E ratio of 4.03, a price-to-earnings-growth ratio of 2.76 and a beta of 0.75.

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.