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May 06, 2023
Rogers Communications Inc., Omnicom Group Inc, T-Mobile, among others, are the communication_services stocks approaching important price targets.
Yesterday's session summary: Markets had an interesting day yesterday; Dow Jones closed the day at 33,674, having gained 1.65%. S&P 500 gained 1.85% and closed at 4,136.25.
What is a Price Target?
A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Check out this rundown of communication_services stocks and their price targets.
Buyers pushing Rogers Communication towards its price target of $49.45; currently at $49.25
After closing at $48.55 on Thursday, Rogers Communications Inc. rallied as high as $49.25 but ended the day at $49.25. Positive signs: after 5 days of being mostly flat, Rogers Communication closed 1.44% higher yesterday. The day's trading volume totalled 231,436 shares — slightly below the 21-day average of 326,546.
After hitting an important low of $37.05 approximately 6 months ago, the Canadian telecoms provider has bounced back 31.04% since. The company is currently trading with a market cap of $26 billion with an average daily volume of 326,546 shares. So far this year, it has been under-performing the Nasdaq by 10.27%. Rogers Communication has a forecast of $2.90 billion with an EPS of $1.
It will be interesting to follow how Rogers Communication's run now faces a challenge at $49.45, which is only 20 cents away.
Buyers pushing Omnicom Group towards its price target of $90.4; currently at $89.75
An influx of buyers helped the corporate comms provider to end the session higher around $89.75, while establishing a $88.33 to $89.8 session range yesterday. Yesterday's gains added to Omnicom Group's 3 days uptrend, during which it increased a total of 68 cents. Yesterday's trading volume was 1.56 million shares which is slightly under the 21-day average of 1.80 million.
18 days ago the corporate comms provider reached a significant high of $96.14 but has consequently lost 8.76% since then. Omnicom Group's market cap currently stands at $17.91 billion with an average daily trading volume of 1.80 million shares. So far this year, it has been beating the S&P 500 by 1.28%. Omnicom Group is forecasted to generate revenues of $3.38 billion and EPS of $1.38.
Omnicom Group's recent run now faces a major challenge as concentrated supply is likely found at $90.4 with price action currently 65 cents away.
Omnicom Group disclosed a quarterly dividend of 70 cents per share on Thursday, February 16th that was paid on Thursday, April 6th to all shareholders of record up until Friday, March 10th. Based on current prices, the company's decision thereby provides Omnicom Group investors with an annual dividend yield of 3.12%.
Buyers pushing T-Mobile towards its price target of $144.6; currently at $143.56
T-Mobile's recent run now faces a major challenge as concentrated supply is likely found at $144.6 with price action currently $1.04 away.
T-Mobile has posted further gains as part of a 3 day trend that has already seen the stock gain $1.35. on-trend T-Mobile closed the session yesterday with more of the same: T-Mobile rallied 1.63% and ended the session at $143.56. Trading volume totalled 4.21 million which equates to around 83% of the stock's 21-day average yesterday.
