Rogers Communication (NYSE:RCI) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Rogers Communications from “sell” to “hold,” bringing the consensus rating to “hold” across five buy, three hold, and one sell recommendations. The average analyst price target is $36.00.
• Rogers reported quarterly earnings of $0.83 per share, exceeding estimates of $0.80, while revenue reached $3.95 billion and increased 7.6% year over year.
• The stock opened at $36.44, with a market capitalization of $19.68 billion and a 12-month trading range of $31.38 to $41.14; institutional investors own approximately 45.49% of the shares.

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

Several other analysts also recently weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Rogers Communication in a report on Tuesday, July 7th. Weiss Ratings cut shares of Rogers Communication from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Barclays reduced their price objective on shares of 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. TD Securities reaffirmed a "buy" rating on shares of Rogers Communication in a report on Thursday, July 23rd. Finally, Raymond James Financial initiated coverage on Rogers Communication in a research report on Wednesday, July 15th. They set an "outperform" rating on the stock. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.00.

Rogers Communication Price Performance

Rogers Communication stock opened at $36.44 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51. The business has a 50 day simple moving average of $34.80 and a 200-day simple moving average of $36.38. Rogers Communication has a 12 month low of $31.38 and a 12 month high of $41.14. The stock has a market capitalization 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 (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 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. Rogers Communication's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. Equities analysts predict that Rogers Communication will post 3.27 earnings per share for the current year.

Institutional Investors Weigh In On Rogers Communication

Several institutional investors and hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC purchased a new position in Rogers Communication during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC lifted 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 in the last quarter. Headlands Technologies LLC grew its position in shares of Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider's stock valued at $49,000 after purchasing an additional 978 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Rogers Communication during the 3rd quarter worth approximately $63,000. Finally, Danske Bank A S purchased a new position in shares of Rogers Communication during the 3rd quarter worth approximately $64,000. 45.49% of the stock is currently 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.

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