In a report released yesterday, Drew Mcreynolds from RBC Capital maintained a Buy rating on Rogers Communication (RCI), with a price target of C$65.00. The company’s shares closed last Monday at $40.00.
According to TipRanks.com, Mcreynolds is a 4-star analyst with an average return of 5.9% and a 59.0% success rate. Mcreynolds covers the Technology sector, focusing on stocks such as Quebecor, Telus, and BCE.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rogers Communication with a $48.41 average price target, a 18.7% upside from current levels. In a report issued on October 13, Canaccord Genuity also maintained a Buy rating on the stock with a C$57.00 price target.
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Based on Rogers Communication’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.42 billion and net profit of $352 million. In comparison, last year the company earned revenue of $3.59 billion and had a net profit of $391 million.
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Rogers Communications, Inc. engages in the provision of wireless communications services. It operates its business through the following segments: Wireless, Cable, Business Solutions, and Media. The Wireless segment refers to wireless communications operations carried on by Rogers Communication Partnership, which provides retail and business voice and data wireless communications services. The Cable segment provides telecommunications operations, including Internet, television, and telephony services to consu mers and businesses. The Business Solutions segment offers network connectivity through fibre network and data center assets to support a range of voice, data, networking, hosting, and cloud-based services for the enterprise, public sector, and carrier. The Media segment comprises of diversified portfolio of media properties, such as sports media and entertainment, television and radio broadcasting, specialty channels, multi-platform shopping, digital media, and publishing. The company was founded by Edward Samuel Rogers, Jr. in 1960 and is headquartered in Toronto, Canada.
