Rogers Communication (NYSE:RCI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Rogers Communication (NYSE:RCI) (TSE:RCI.B) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other research firms also recently commented on RCI. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research note on Monday, October 20th. Desjardins lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Barclays boosted their target price on shares of Rogers Communication from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Finally, Cowen restated a “buy” rating on shares of Rogers Communication in a research report on Monday, December 1st. Three research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

Rogers Communication Price Performance

Shares of RCI stock opened at $37.93 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 4.21, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The firm has a fifty day moving average of $37.86 and a 200-day moving average of $35.53. Rogers Communication has a 12-month low of $23.18 and a 12-month high of $40.26.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 23rd. The Wireless communications provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $5.33 billion. Rogers Communication had a return on equity of 17.14% and a net margin of 32.49%.The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.42 EPS. On average, equities research analysts forecast that Rogers Communication will post 3.57 earnings per share for the current year.

Institutional Trading of Rogers Communication

A number of hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of Rogers Communication by 2.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider’s stock worth $340,428,000 after buying an additional 282,609 shares in the last quarter. Bank of Nova Scotia grew its position in Rogers Communication by 2.3% during the 3rd quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider’s stock worth $291,526,000 after acquiring an additional 186,510 shares during the last quarter. TD Asset Management Inc increased its holdings in Rogers Communication by 18.0% in the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after purchasing an additional 1,272,065 shares in the last quarter. Mackenzie Financial Corp raised its position in Rogers Communication by 7.0% in the third quarter. Mackenzie Financial Corp now owns 8,161,532 shares of the Wireless communications provider’s stock valued at $280,904,000 after purchasing an additional 536,623 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its stake in shares of Rogers Communication by 14.8% during the second quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock valued at $199,922,000 after purchasing an additional 868,800 shares in the last quarter. 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.