Rogers Communications (NYSE:RCI) Price Target Cut to $46.00

Rogers Communications (NYSE:RCI) (TSE:RCI.B) had its target price reduced by investment analysts at Barclays from $52.00 to $46.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the Wireless communications provider’s stock. Barclays‘s target price suggests a potential upside of 17.50% from the stock’s previous close.

Separately, StockNews.com downgraded Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.00.

Rogers Communications Trading Down 0.5 %

Rogers Communications stock opened at $39.15 on Wednesday. The firm has a market cap of $20.69 billion, a PE ratio of 32.63, a P/E/G ratio of 1.69 and a beta of 0.59. Rogers Communications has a 12 month low of $36.55 and a 12 month high of $50.00. The stock’s 50 day simple moving average is $43.33 and its two-hundred day simple moving average is $43.11. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 3.81.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.99 billion. Analysts anticipate that Rogers Communications will post 3.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. FIL Ltd raised its holdings in shares of Rogers Communications by 13.7% during the fourth quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock valued at $1,709,377,000 after acquiring an additional 4,405,888 shares during the last quarter. Canoe Financial LP increased its position in shares of Rogers Communications by 1,575.9% during the fourth quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider’s stock worth $744,432,000 after purchasing an additional 14,954,351 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Rogers Communications by 10.2% in the 4th quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock valued at $594,848,000 after purchasing an additional 1,177,264 shares in the last quarter. Vanguard Group Inc. boosted its stake in Rogers Communications by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 11,396,833 shares of the Wireless communications provider’s stock worth $646,770,000 after purchasing an additional 238,829 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Rogers Communications by 27.3% during the fourth quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock worth $520,980,000 after buying an additional 2,372,306 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.