Rogers Communication (NYSE:RCI) Reaches New 1-Year High - What's Next?

Key Points

• Rogers Communication reached a new 52-week high of $39.06 on Friday, with the last trading price at $38.93, showing increased activity with a volume of over 112,000 shares.
• Analysts have given mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $33.00; Barclays recently raised their price objective to $33.00.
• The company reported earnings per share of $0.82 for the last quarter, exceeding analysts' expectations, while their revenue for the quarter was $3.82 billion, a 2.4% increase year-over-year.

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B hit a new 52-week high on Friday . The stock traded as high as $39.06 and last traded at $38.93, with a volume of 112439 shares. The stock had previously closed at $38.62.

Analyst Upgrades and Downgrades

RCI has been the topic of a number of recent analyst reports. Barclays increased their price objective on Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Cowen restated a "buy" rating on shares of Rogers Communication in a research note on Friday. Weiss Ratings restated a "hold (c)" rating on shares of Rogers Communication in a research note on Wednesday, October 8th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a research report on Monday. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $33.00.

Rogers Communication Stock Performance

The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. The stock has a market capitalization of $21.08 billion, a PE ratio of 19.42, a P/E/G ratio of 3.00 and a beta of 0.78. The stock has a 50 day moving average of $35.80 and a two-hundred day moving average of $31.14.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Institutional Trading of Rogers Communication

Institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. boosted its stake in shares of Rogers Communication by 885.4% in the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock valued at $25,000 after buying an additional 850 shares in the last quarter. Headlands Technologies LLC boosted its position in Rogers Communication by 143.2% during the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider's stock worth $49,000 after purchasing an additional 978 shares in the last quarter. MAI Capital Management boosted its position in Rogers Communication by 30.5% during the second quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider's stock worth $58,000 after purchasing an additional 458 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider's stock worth $59,000 after acquiring an additional 683 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Rogers Communication by 176.9% in the second quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider's stock worth $86,000 after acquiring an additional 1,847 shares during the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

About Rogers Communication

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.

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