Rogers Communication (RCI) Received its Third Buy in a Row
After Canaccord Genuity and Scotiabank gave Rogers Communication (NYSE: RCI) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Drew Mcreynolds reiterated a Buy rating on Rogers Communication today and set a price target of C$74.00. The company’s shares closed last Tuesday at $48.60.
According to TipRanks.com, Mcreynolds is a 4-star analyst with an average return of 13.5% and a 64.5% success rate. Mcreynolds covers the Technology sector, focusing on stocks such as Quebecor, Telus, and BCE.
Rogers Communication has an analyst consensus of Strong Buy, with a price target consensus of $57.34, a 17.0% upside from current levels. In a report issued on April 12, Canaccord Genuity also maintained a Buy rating on the stock with a C$72.00 price target.
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Based on Rogers Communication’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.68 billion and net profit of $449 million. In comparison, last year the company earned revenue of $3.95 billion and had a net profit of $468 million.
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Incorporated in 1960, Canada-based Rogers Communications, Inc. provides wireless communications services. It operates its business through the following segments: Wireless, Cable, and Media.