Rogers Communications (RCI) Lifted to “Buy” at Desjardins

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was upgraded by equities research analysts at Desjardins from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat reports. Desjardins also issued estimates for Rogers Communications’ Q4 2017 earnings at $0.68 EPS, FY2017 earnings at $2.78 EPS, FY2018 earnings at $3.15 EPS and FY2019 earnings at $3.39 EPS.

A number of other research firms also recently issued reports on RCI. Barclays boosted their target price on shares of Rogers Communications from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, October 20th. Zacks Investment Research downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Morgan Stanley boosted their target price on shares of Rogers Communications from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. Bank of America assumed coverage on shares of Rogers Communications in a research report on Tuesday, November 21st. They set a “buy” rating on the stock. Finally, TheStreet upgraded shares of Rogers Communications from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Rogers Communications has an average rating of “Buy” and a consensus price target of $63.50.

Shares of Rogers Communications (NYSE RCI) traded down $0.23 during midday trading on Monday, hitting $50.47. 656,200 shares of the stock were exchanged, compared to its average volume of 342,200. The firm has a market cap of $26,000.00, a P/E ratio of 25.62, a P/E/G ratio of 3.27 and a beta of 0.93. Rogers Communications has a 1 year low of $38.15 and a 1 year high of $54.95. The company has a quick ratio of 0.38, a current ratio of 0.41 and a debt-to-equity ratio of 2.01.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.19). The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.63 billion. Rogers Communications had a return on equity of 31.06% and a net margin of 13.04%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. sell-side analysts expect that Rogers Communications will post 2.72 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC lifted its position in shares of Rogers Communications by 25.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 583,737 shares of the Wireless communications provider’s stock valued at $30,086,000 after acquiring an additional 119,535 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Rogers Communications by 26.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,380 shares of the Wireless communications provider’s stock valued at $535,000 after acquiring an additional 2,178 shares during the period. Jane Street Group LLC increased its stake in Rogers Communications by 19.7% during the 3rd quarter. Jane Street Group LLC now owns 46,031 shares of the Wireless communications provider’s stock valued at $2,372,000 after purchasing an additional 7,586 shares in the last quarter. Mackenzie Financial Corp increased its stake in Rogers Communications by 11.7% during the 3rd quarter. Mackenzie Financial Corp now owns 1,765,372 shares of the Wireless communications provider’s stock valued at $90,987,000 after purchasing an additional 184,506 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Rogers Communications by 5.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 188,306 shares of the Wireless communications provider’s stock valued at $9,705,000 after purchasing an additional 9,010 shares in the last quarter. Institutional investors own 47.15% of the company’s stock.

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Rogers Communications Company Profile

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

Analyst Recommendations for Rogers Communications (NYSE:RCI)

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