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

Rogers Communication (NYSE:RCI) (TSE:RCI.B) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday,Finviz reports.

Several other equities research analysts also recently issued reports on RCI. Wall Street Zen downgraded Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Desjardins cut Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. Morgan Stanley reiterated an “underweight” rating on shares of Rogers Communication in a research note on Wednesday, December 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rogers Communication has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Stock Performance

Shares of RCI stock opened at $38.19 on Thursday. The firm’s 50 day moving average price is $38.51 and its 200-day moving average price is $37.57. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.57 and a current ratio of 0.61. Rogers Communication has a one year low of $23.18 and a one year high of $41.14. The firm has a market cap of $20.63 billion, a P/E ratio of 4.13, a P/E/G ratio of 5.10 and a beta of 0.72.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.10. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts predict that Rogers Communication will post 3.57 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in Rogers Communication by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock worth $203,000 after acquiring an additional 334 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in 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 acquiring an additional 407 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Rogers Communication by 6.5% during the fourth quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the Wireless communications provider’s stock worth $297,000 after purchasing an additional 479 shares during the last quarter. Gold Investment Management Ltd. grew its holdings in shares of Rogers Communication by 1.7% during the fourth quarter. Gold Investment Management Ltd. now owns 29,721 shares of the Wireless communications provider’s stock worth $1,122,000 after purchasing an additional 488 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Rogers Communication by 1.8% during the second quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock worth $1,101,000 after purchasing an additional 640 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.