Rogers Communications (NYSE:RCI) Cut to “Sector Perform” at Scotiabank

Scotiabank downgraded shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) from a sector outperform rating to a sector perform rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports.

A number of other research firms have also issued reports on RCI. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley assumed coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Trading Up 3.0 %

Shares of RCI stock opened at $26.06 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications has a fifty-two week low of $24.76 and a fifty-two week high of $41.84. The firm’s 50 day moving average price is $27.78 and its two-hundred day moving average price is $32.53. The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. On average, analysts anticipate that Rogers Communications will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were issued a dividend of $0.347 per share. The ex-dividend date was Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 5.33%. Rogers Communications’s dividend payout ratio is presently 59.48%.

Hedge Funds Weigh In On Rogers Communications

Several institutional investors and hedge funds have recently made changes to their positions in RCI. Lindbrook Capital LLC raised its holdings in Rogers Communications by 95.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 744 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock worth $55,000 after purchasing an additional 1,052 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Rogers Communications in the 1st quarter worth about $79,000. Headlands Technologies LLC raised its stake in shares of Rogers Communications by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock valued at $163,000 after purchasing an additional 3,888 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in Rogers Communications by 19.1% in the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after purchasing an additional 930 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.