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

Key Points

• Wall Street Zen downgraded Rogers Communication from “hold” to “sell,” though the broader analyst consensus remains “Moderate Buy,” with six buy, two hold and one sell rating.
• Rogers reported quarterly EPS of $0.83, beating estimates of $0.80, while revenue reached $3.95 billion and increased 7.6% year over year.
• Shares opened at $30.84, near their 52-week low of $30.15; institutional investors own approximately 45.49% of the company.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts have also issued reports on RCI. Barclays lowered their price target on shares of Rogers Communication from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, July 16th. Raymond James Financial assumed coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They set an "outperform" rating for the company. TD Securities reissued a "buy" rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Scotiabank restated an "outperform" rating on shares of Rogers Communication in a report on Tuesday, July 7th. Finally, Desjardins raised shares of 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.00.

Rogers Communication Trading Up 0.4%

Shares of RCI stock opened at $30.84 on Friday. Rogers Communication has a 1-year low of $30.15 and a 1-year high of $41.14. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 3.73, a PEG ratio of 3.85 and a beta of 0.65. The stock has a 50-day moving average of $35.02 and a 200-day moving average of $35.56.

Rogers Communication (NYSE:RCI - Get Free Report) 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 analysts' consensus estimates of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The company had revenue of $3.95 billion for 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. The firm's quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that Rogers Communication will post 3.26 earnings per share for the current year.

Institutional Trading of Rogers Communication

Several hedge funds have recently modified their holdings of RCI. Parallel Advisors LLC increased its position in Rogers Communication by 10.2% in the 1st quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider's stock valued at $130,000 after buying an additional 312 shares in the last quarter. Monarch Capital Management Inc. boosted its holdings in Rogers Communication by 0.6% in the first quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider's stock worth $2,299,000 after acquiring an additional 360 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Rogers Communication by 15.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider's stock worth $119,000 after acquiring an additional 418 shares in the last quarter. Versant Capital Management Inc grew its stake in Rogers Communication by 8.2% in the third quarter. Versant Capital Management Inc now owns 6,326 shares of the Wireless communications provider's stock valued at $195,000 after acquiring an additional 480 shares during the period. Finally, Squarepoint Ops LLC grew its stake in Rogers Communication by 2.5% in the second quarter. Squarepoint Ops LLC now owns 21,669 shares of the Wireless communications provider's stock valued at $704,000 after acquiring an additional 524 shares during the period. 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.

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