Rogers Communications (NYSE:RCI) Receives “Equal Weight” Rating from Barclays

Rogers Communications (NYSE:RCI) (TSE:RCI.B)‘s stock had its “equal weight” rating reiterated by stock analysts at Barclays in a report issued on Tuesday,Benzinga reports.

Several other research firms also recently commented on RCI. Morgan Stanley started coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. One research 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. Based on data from MarketBeat.com, Rogers Communications currently has a consensus rating of “Hold” and an average price target of $61.75.

Rogers Communications Stock Performance

Shares of NYSE RCI traded up $0.01 during trading hours on Tuesday, reaching $28.22. The stock had a trading volume of 304,027 shares, compared to its average volume of 891,081. The company has a market cap of $15.08 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.05 and a beta of 0.69. Rogers Communications has a twelve month low of $27.63 and a twelve month high of $48.19. The business’s fifty day moving average is $32.65 and its two-hundred day moving average is $36.65. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

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

Institutional Trading of Rogers Communications

A number of hedge funds and other institutional investors have recently modified their holdings of RCI. Cromwell Holdings LLC bought a new stake in Rogers Communications during the 3rd quarter worth about $31,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 522 shares during the period. Grove Bank & Trust raised its stake in shares of Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after buying an additional 302 shares during the last quarter. Nexus Investment Management ULC acquired a new position in Rogers Communications in the third quarter valued at approximately $203,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Rogers Communications in the third quarter valued at approximately $206,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

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.