Rogers Communication (NYSE:RCI) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Rogers Communication (NYSE:RCI) (TSE:RCI.B) from a hold rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Desjardins raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Monday, September 14th. Raymond James Financial began coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Barclays dropped their target price on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Rogers Communication Price Performance

RCI stock opened at $30.37 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55. Rogers Communication has a 1 year low of $30.15 and a 1 year high of $41.14. The firm has a market cap of $16.41 billion, a P/E ratio of 3.67, a price-to-earnings-growth ratio of 3.86 and a beta of 0.65. The stock has a 50-day simple moving average of $34.97 and a 200-day simple moving average of $35.47.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.Rogers Communication’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, equities analysts predict that Rogers Communication will post 3.26 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th were given a C$0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 6.6%. Rogers Communication’s payout ratio is presently 17.39%.

Institutional Investors Weigh In On Rogers Communication

A number of institutional investors have recently modified their holdings of the stock. Fiera Capital Corp lifted its stake in shares of Rogers Communication by 8,881.3% in the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock worth $271,751,000 after acquiring an additional 7,116,744 shares during the period. Dimensional Fund Advisors LP lifted its position in Rogers Communication by 98.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock worth $77,871,000 after purchasing an additional 1,004,963 shares during the period. Bank of Nova Scotia lifted its position in Rogers Communication by 7.6% in the first quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock worth $241,467,000 after purchasing an additional 445,964 shares during the period. Swiss National Bank boosted its stake in Rogers Communication by 27.0% during the 1st quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock valued at $47,146,000 after purchasing an additional 261,000 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in Rogers Communication by 757.7% during the 4th quarter. Natixis Advisors LLC now owns 292,686 shares of the Wireless communications provider’s stock valued at $11,043,000 after purchasing an additional 258,562 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers’ telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.