Rogers Communication (NYSE:RCI) Stock Rating Lowered by Wall Street Zen

Rogers Communication (NYSE:RCI) (TSE:RCI.B) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also weighed in on the stock. Desjardins restated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Barclays lowered their price target on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Raymond James Financial began coverage on Rogers Communication in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Trading Up 0.1%

NYSE RCI opened at $32.76 on Friday. The stock has a market capitalization of $17.70 billion, a P/E ratio of 3.96, a P/E/G ratio of 4.08 and a beta of 0.64. Rogers Communication has a 52-week low of $31.38 and a 52-week high of $41.14. The firm has a 50-day moving average price of $35.59 and a 200 day moving average price of $36.56. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.91 billion. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.Rogers Communication’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. Equities research analysts expect that Rogers Communication will post 3.27 EPS for the current year.

Institutional Trading of Rogers Communication

Several institutional investors and hedge funds have recently modified their holdings of the business. TD Asset Management Inc increased its stake in shares of Rogers Communication by 2.3% during the 4th quarter. TD Asset Management Inc now owns 8,540,114 shares of the Wireless communications provider’s stock worth $322,789,000 after purchasing an additional 195,189 shares in the last quarter. Fiera Capital Corp raised its position in shares of Rogers Communication by 8,881.3% during the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock worth $271,751,000 after purchasing an additional 7,116,744 shares during the last quarter. Bank of Nova Scotia lifted its stake in Rogers Communication by 7.6% in the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock valued at $241,467,000 after buying an additional 445,964 shares in the last quarter. Morgan Stanley lifted its stake in Rogers Communication by 138.0% in the 4th quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock valued at $191,681,000 after buying an additional 2,945,885 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Rogers Communication by 67.8% during the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after buying an additional 1,966,476 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.