Rogers Communications (NYSE:RCI) Price Target Cut to $46.00 by Analysts at Barclays

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B had its target price decreased by Barclays from $52.00 to $46.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the Wireless communications provider's stock. Barclays's price objective would suggest a potential upside of 16.87% from the stock's current price.

Separately, StockNews.com cut 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.00.

Rogers Communications Stock Down 2.5 %

Shares of NYSE:RCI traded down $0.99 on Wednesday, reaching $39.36. The company had a trading volume of 595,011 shares, compared to its average volume of 511,270. The stock has a market capitalization of $20.80 billion, a P/E ratio of 32.80, a P/E/G ratio of 1.69 and a beta of 0.59. The stock has a 50-day moving average price of $43.50 and a 200 day moving average price of $43.14. Rogers Communications has a twelve month low of $36.55 and a twelve month high of $50.00. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 3.81.

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

Institutional Investors Weigh In On Rogers Communications

Several hedge funds have recently modified their holdings of the business. Orion Portfolio Solutions LLC raised its stake in shares of Rogers Communications by 317.7% in the third quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider's stock valued at $1,301,000 after purchasing an additional 25,766 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Rogers Communications by 101.8% in the third quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider's stock valued at $5,040,000 after purchasing an additional 66,231 shares in the last quarter. Invesco Ltd. raised its stake in Rogers Communications by 13.7% during the third quarter. Invesco Ltd. now owns 200,294 shares of the Wireless communications provider's stock worth $7,689,000 after acquiring an additional 24,178 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Rogers Communications by 32.0% during the third quarter. Canada Pension Plan Investment Board now owns 2,101,225 shares of the Wireless communications provider's stock worth $81,049,000 after acquiring an additional 508,900 shares in the last quarter. Finally, Scotia Capital Inc. raised its stake in Rogers Communications by 9.3% during the third quarter. Scotia Capital Inc. now owns 2,625,594 shares of the Wireless communications provider's stock worth $100,617,000 after acquiring an additional 224,293 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

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.