Rogers Communications (RCI) Cut to “Sell” at Zacks Investment Research

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “Rogers Communications operates in an intensely competitive wireless and cable TV industry. The company’s media segment continues to remain affected by continued softness in the advertising market. Like other cable companies, Rogers also suffers from video subscriber loss due to cord-cutting. On the other hand, Rogers Communications' wireless and cable segment has been doing well with huge wireless and high-speed internet subscriber gain. We are bullish about the company’s wireless growth from the roll out of lower block spectrum and offering of Internet of Things as a service to business enterprises. Over the past one year, the stock price grew 24.5% beating the industry's gain of 10.5%. The company has maintained its position as the largest integrated-telecom operator in Canada.”

A number of other research analysts have also commented on the stock. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Bank of America initiated coverage on shares of Rogers Communications in a research report on Tuesday, November 21st. They set a “buy” rating for the company. Morgan Stanley boosted their price target on shares of Rogers Communications from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. TheStreet upgraded shares of Rogers Communications from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Finally, Barclays boosted their price target on shares of Rogers Communications from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $63.50.

Shares of Rogers Communications (NYSE RCI) traded down $0.16 during mid-day trading on Monday, reaching $49.98. 255,200 shares of the company’s stock were exchanged, compared to its average volume of 307,462. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.41 and a quick ratio of 0.38. Rogers Communications has a 1-year low of $39.03 and a 1-year high of $54.95. The company has a market cap of $25,780.00, a PE ratio of 25.50, a price-to-earnings-growth ratio of 3.23 and a beta of 0.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.19). Rogers Communications had a net margin of 9.20% and a return on equity of 30.40%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm earned $0.83 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. analysts forecast that Rogers Communications will post 2.71 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Rogers Communications by 7,392.6% in the third quarter. Tower Research Capital LLC TRC now owns 2,023 shares of the Wireless communications provider’s stock worth $113,000 after acquiring an additional 1,996 shares in the last quarter. Creative Planning grew its position in Rogers Communications by 7.8% in the second quarter. Creative Planning now owns 2,391 shares of the Wireless communications provider’s stock worth $113,000 after acquiring an additional 173 shares in the last quarter. US Bancorp DE grew its position in Rogers Communications by 5.2% in the third quarter. US Bancorp DE now owns 3,379 shares of the Wireless communications provider’s stock worth $144,000 after acquiring an additional 167 shares in the last quarter. Blue Chip Partners Inc. grew its position in Rogers Communications by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the Wireless communications provider’s stock worth $165,000 after acquiring an additional 35 shares in the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in Rogers Communications in the first quarter worth $168,000. Institutional investors own 47.32% of the company’s stock.

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About Rogers Communications

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

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