Rogers Communication (NYSE:RCI) Downgraded to “Hold” Rating by TD Securities

TD Securities lowered shares of Rogers Communication (NYSE:RCI) (TSE:RCI.B) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

Several other analysts have also recently commented on RCI. Desjardins cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rogers Communication currently has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Trading Down 8.1%

Shares of Rogers Communication stock opened at $35.06 on Thursday. The firm has a market capitalization of $18.94 billion, a PE ratio of 3.79, a P/E/G ratio of 5.06 and a beta of 0.72. Rogers Communication has a twelve month low of $23.18 and a twelve month high of $41.14. The firm’s 50-day moving average price is $38.47 and its 200 day moving average price is $37.56. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.48.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.98 by $0.10. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same period in the previous year, the business earned $1.46 EPS. Rogers Communication’s quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts predict that Rogers Communication will post 3.57 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.7%. Rogers Communication’s dividend payout ratio (DPR) is currently 15.89%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RCI. Purpose Unlimited Inc. acquired a new stake in Rogers Communication during the fourth quarter worth $6,940,000. Corient Private Wealth LLC acquired a new position in shares of Rogers Communication in the 4th quarter valued at $214,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Rogers Communication by 1,314.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,337 shares of the Wireless communications provider’s stock worth $126,000 after purchasing an additional 3,101 shares during the period. Tobam grew its holdings in shares of Rogers Communication by 85.9% during the 4th quarter. Tobam now owns 48,541 shares of the Wireless communications provider’s stock worth $1,831,000 after purchasing an additional 22,433 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Rogers Communication during the 4th quarter worth about $211,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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.