Rogers Communication (NYSE:RCI) Raised to “Hold” at Wall Street Zen

Rogers Communication (NYSE:RCI) (TSE:RCI.B) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued reports about the company. Barclays reduced their target price 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. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research report on Thursday, July 23rd. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Finally, Weiss Ratings cut Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Rogers Communication presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Price Performance

NYSE:RCI opened at $36.44 on Friday. The firm has a market cap of $19.68 billion, a PE ratio of 4.40, a price-to-earnings-growth ratio of 4.54 and a beta of 0.64. Rogers Communication has a 12 month low of $31.38 and a 12 month high of $41.14. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. The company’s 50-day moving average price is $34.80 and its two-hundred day moving average price is $36.38.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share 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 firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that Rogers Communication will post 3.27 EPS for the current fiscal year.

Institutional Trading of Rogers Communication

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fiera Capital Corp boosted its stake in shares of Rogers Communication by 8,881.3% in the 4th 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 grew its position in shares of Rogers Communication by 138.0% during 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 during the period. Bank of America Corp DE raised its stake in shares of Rogers Communication by 67.8% during the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock worth $167,765,000 after buying an additional 1,966,476 shares during the last quarter. Caisse de depot et placement du Quebec bought a new stake in shares of Rogers Communication during the third quarter worth approximately $47,082,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Rogers Communication by 98.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock valued at $77,871,000 after buying an additional 1,004,963 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

About Rogers Communication

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.