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

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

A number of other brokerages have also weighed in on RCI. TD Securities restated a “buy” rating on shares of Rogers Communication in a research report on Thursday. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Raymond James Financial began coverage on Rogers Communication in a research note on Wednesday, July 15th. They set an “outperform” rating on the stock. Barclays reduced 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. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Stock Performance

NYSE RCI opened at $32.81 on Friday. The firm’s fifty day moving average price is $35.54 and its two-hundred day moving average price is $36.53. The stock has a market cap of $17.73 billion, a PE ratio of 3.96, a PEG ratio of 4.08 and a beta of 0.64. Rogers Communication has a fifty-two week low of $31.38 and a fifty-two week high of $41.14. 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 (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts expect that Rogers Communication will post 3.27 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 6.1%. Rogers Communication’s payout ratio is currently 17.51%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC acquired a new position in Rogers Communication during the 1st quarter worth about $483,000. JTC Employer Solutions Trustee Ltd increased its stake in shares of Rogers Communication by 1.0% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 107,208 shares of the Wireless communications provider’s stock valued at $4,107,000 after buying an additional 1,025 shares during the period. Guardian Partners Inc. increased its stake in shares of Rogers Communication by 0.6% in the first quarter. Guardian Partners Inc. now owns 371,138 shares of the Wireless communications provider’s stock valued at $14,270,000 after buying an additional 2,285 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Rogers Communication by 15.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider’s stock worth $119,000 after acquiring an additional 418 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Rogers Communication by 13.5% during the first quarter. Quantinno Capital Management LP now owns 120,886 shares of the Wireless communications provider’s stock worth $4,648,000 after acquiring an additional 14,370 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

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.