Rogers Communication (NYSE:RCI) Rating Lowered to Hold at TD Securities

Rogers Communication (NYSE:RCI) (TSE:RCI.B) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Thursday,Finviz reports.

RCI has been the topic of several other reports. Wall Street Zen cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley reissued an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Barclays reiterated a “positive” rating and issued a $37.00 price target on shares of Rogers Communication in a report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Down 0.7%

Shares of NYSE:RCI opened at $38.19 on Thursday. Rogers Communication has a 1-year low of $23.18 and a 1-year high of $41.14. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. The stock has a market cap of $20.63 billion, a P/E ratio of 4.13, a P/E/G ratio of 5.10 and a beta of 0.72. The firm has a fifty day moving average price of $38.51 and a 200 day moving average price of $37.57.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. Sell-side analysts predict that Rogers Communication will post 3.57 EPS for the current year.

Institutional Trading of Rogers Communication

Hedge funds have recently made changes to their positions in the stock. Fiera Capital Corp grew its holdings 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 valued at $271,751,000 after purchasing an additional 7,116,744 shares during the last quarter. Morgan Stanley raised its stake in shares of Rogers Communication by 138.0% in the 4th quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock worth $191,681,000 after buying an additional 2,945,885 shares in the last quarter. Bank of America Corp DE lifted its holdings in Rogers Communication by 67.8% in the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after acquiring an additional 1,966,476 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Rogers Communication by 261.2% during the third quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after purchasing an additional 1,520,062 shares during the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new stake in shares of Rogers Communication during the 3rd quarter valued at $47,082,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

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.