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

Wall Street Zen upgraded shares of Rogers Communication (NYSE:RCI) (TSE:RCI.B) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Several other research analysts also recently issued reports on RCI. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, October 20th. Barclays cut their price objective on Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 13th. Desjardins upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Finally, Raymond James Financial started coverage on Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.00.

Rogers Communication Price Performance

RCI stock opened at $32.33 on Friday. The company has a 50 day simple moving average of $33.99 and a 200 day simple moving average of $35.79. The stock has a market cap of $17.47 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 4.08 and a beta of 0.65. Rogers Communication has a 1 year low of $29.25 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Friday, October 23rd. The Wireless communications provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. Rogers Communication had a net margin of 4.11% and a return on equity of 11.35%. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Research analysts anticipate that Rogers Communication will post 3.24 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 8th will be given a C$0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Tuesday, December 8th. Rogers Communication’s payout ratio is 120.00%.

Institutional Investors Weigh In On Rogers Communication

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Rogers Communication by 98.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock worth $77,871,000 after acquiring an additional 1,004,963 shares during the period. Bank of Nova Scotia increased its position in Rogers Communication by 7.6% during the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock valued at $241,467,000 after purchasing an additional 445,964 shares during the period. TD Waterhouse Canada Inc. increased its position in Rogers Communication by 7.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,037,804 shares of the Wireless communications provider’s stock valued at $155,491,000 after purchasing an additional 332,725 shares during the period. Swiss National Bank increased its position in Rogers Communication by 27.0% during the 1st quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock valued at $47,146,000 after purchasing an additional 261,000 shares during the period. Finally, QV Investors Inc. raised its holdings in Rogers Communication by 31.4% during the 3rd quarter. QV Investors Inc. now owns 1,076,059 shares of the Wireless communications provider’s stock worth $33,212,000 after purchasing an additional 257,096 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.