Rogers Communication Inc. (RCI) Rating Lowered to Hold at Zacks Investment Research
Rogers Communication Inc. (NYSE:RCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Rogers Communications is the first wireless operator in Canada to offer 3 Internet of Things (IoT) services – End-to-End Incident Management, Farm & Food Monitoring, Level Monitoring, to business enterprises. Rogers’s decision to purchase broadcasting company – Tillsonburg Broadcasting Company Limited bodes well. The company’s newly launched cost-effective, simple and competitive IaaS Cloud services and Rogers Unison (a new mobile solution) have increased its postpaid wireless and internet subscribers. The company has also been focusing on the business enterprise segment. Moreover, the company aims to launch its Internet TV services with 4K picture quality by the end of the year. However, intense wireless and cable TV industry competition, continuous softness in the advertising market and loss of viewers to video streaming service providers remain potent headwinds. Loss incurred from the shutdown of Shomi is another concern.”
Several other brokerages also recently issued reports on RCI. TD Securities reissued a “buy” rating and set a $58.00 price objective on shares of Rogers Communication in a research note on Wednesday, July 6th. Bank of America Corp. assumed coverage on shares of Rogers Communication in a research report on Tuesday, July 5th. They set a “neutral” rating for the company. TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Tuesday, July 19th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $56.00 price target on shares of Rogers Communication in a research report on Wednesday, June 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of C$49.56.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/rogers-communication-inc-rci-rating-lowered-to-hold-at-zacks-investment-research.html
Shares of Rogers Communication (NYSE:RCI) traded up 0.46% during mid-day trading on Thursday, hitting $41.32. 108,525 shares of the stock were exchanged. The stock has a market cap of $21.27 billion, a PE ratio of 20.08 and a beta of 0.87. Rogers Communication has a one year low of $32.50 and a one year high of $45.50. The company has a 50-day moving average of $42.44 and a 200 day moving average of $40.87.
Rogers Communication (NYSE:RCI) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.47 billion. Rogers Communication had a net margin of 10.42% and a return on equity of 24.94%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. On average, equities analysts predict that Rogers Communication will post $2.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.67%. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, September 7th. Rogers Communication’s dividend payout ratio (DPR) is presently 71.36%.
A number of large investors have recently added to or reduced their stakes in RCI. US Bancorp DE raised its stake in Rogers Communication by 10.6% in the second quarter. US Bancorp DE now owns 3,212 shares of the company’s stock worth $129,000 after buying an additional 309 shares during the last quarter. Blue Chip Partners Inc. raised its stake in Rogers Communication by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the company’s stock worth $165,000 after buying an additional 35 shares during the last quarter. Stifel Financial Corp raised its stake in Rogers Communication by 4.3% in the second quarter. Stifel Financial Corp now owns 5,997 shares of the company’s stock worth $244,000 after buying an additional 248 shares during the last quarter. Princeton Alpha Management LP raised its stake in Rogers Communication by 33.4% in the second quarter. Princeton Alpha Management LP now owns 6,908 shares of the company’s stock worth $279,000 after buying an additional 1,731 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new stake in Rogers Communication during the second quarter worth $281,000. 49.28% of the stock is owned by institutional investors and hedge funds.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rogers Communication Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communication Inc. and related companies with MarketBeat.com's FREE daily email newsletter.