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

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

Several other equities research analysts have also issued reports on RCI. Raymond James Financial started coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Weiss Ratings lowered shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Desjardins reissued a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Finally, Barclays dropped their target price on 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. Five research 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. Based on data from MarketBeat, Rogers Communication presently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Up 0.3%

Shares of RCI opened at $32.76 on Friday. The company has a market cap of $17.70 billion, a PE ratio of 3.96, a P/E/G ratio of 4.07 and a beta of 0.64. The business has a fifty day moving average of $35.59 and a 200 day moving average of $36.57. Rogers Communication has a 52-week low of $31.38 and a 52-week high of $41.14. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.54.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 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 analyst estimates of $3.91 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. Rogers Communication’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Rogers Communication will post 3.27 EPS for the current year.

Institutional Investors Weigh In On Rogers Communication

Large investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC bought a new position in Rogers Communication in the 4th quarter worth about $26,000. Farther Finance Advisors LLC boosted its holdings in shares of Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 407 shares during the period. Headlands Technologies LLC grew its stake in Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 683 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Rogers Communication during the 3rd quarter valued at $63,000. 45.49% of the stock is owned by hedge funds and other 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.