Rogers Communications (NYSE:RCI) Earns Equal Weight Rating from Barclays

Barclays reissued their equal weight rating on shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) in a report issued on Tuesday morning, MarketBeat reports.

Several other research analysts have also recently commented on the company. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Up 0.6 %

Shares of RCI opened at $28.28 on Tuesday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The company has a 50-day simple moving average of $32.35 and a 200-day simple moving average of $36.53. Rogers Communications has a 52 week low of $27.63 and a 52 week high of $48.19. The firm has a market capitalization of $15.11 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.05 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts expect that Rogers Communications will post 3.47 earnings per share for the current year.

Hedge Funds Weigh In On Rogers Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCI. The Manufacturers Life Insurance Company raised its stake in shares of Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after acquiring an additional 3,980,525 shares during the last quarter. Toronto Dominion Bank boosted its stake in Rogers Communications by 53.9% in the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after purchasing an additional 2,206,690 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Rogers Communications by 90.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after purchasing an additional 1,375,043 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Rogers Communications by 86.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after acquiring an additional 1,211,482 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Rogers Communications by 18.6% in the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after acquiring an additional 977,924 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

About Rogers Communications

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.