Rogers Communication (NYSE:RCI) Stock Rating Lowered by Wall Street Zen

Rogers Communication (NYSE:RCI) (TSE:RCI.B) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Raymond James Financial began coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They set an “outperform” rating on the stock. Barclays dropped their price objective on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. TD Securities reissued a “buy” rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Finally, Desjardins upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Rogers Communication Stock Performance

Shares of NYSE:RCI opened at $30.84 on Friday. Rogers Communication has a twelve month low of $30.15 and a twelve month high of $41.14. The firm has a market cap of $16.66 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 3.86 and a beta of 0.65. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55. The business has a fifty day moving average of $35.02 and a 200-day moving average of $35.53.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued 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. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. On average, equities research analysts predict that Rogers Communication will post 3.26 EPS for the current fiscal year.

Institutional Trading of Rogers Communication

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

About Rogers Communication

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.