Rogers Communications (RCI) Downgraded by National Bank Financial

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report issued on Friday, MarketBeat reports. National Bank Financial also issued estimates for Rogers Communications’ Q4 2017 earnings at $0.70 EPS, FY2017 earnings at $2.76 EPS, FY2018 earnings at $3.17 EPS and FY2019 earnings at $3.51 EPS.

A number of other analysts also recently commented on RCI. Zacks Investment Research downgraded Rogers Communications from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Barclays upped their price objective on Rogers Communications from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. TheStreet upgraded Rogers Communications from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Bank of America started coverage on Rogers Communications in a report on Tuesday, November 21st. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.75.

Shares of Rogers Communications (NYSE RCI) opened at $49.34 on Friday. The company has a market capitalization of $25,470.00, a price-to-earnings ratio of 18.34, a PEG ratio of 3.15 and a beta of 0.93. The company has a current ratio of 0.41, a quick ratio of 0.38 and a debt-to-equity ratio of 2.01. Rogers Communications has a twelve month low of $41.33 and a twelve month high of $54.95.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its holdings in Rogers Communications by 39.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 28,257 shares of the Wireless communications provider’s stock valued at $1,445,000 after purchasing an additional 8,048 shares in the last quarter. APG Asset Management N.V. increased its holdings in Rogers Communications by 43.1% in the 4th quarter. APG Asset Management N.V. now owns 4,381,163 shares of the Wireless communications provider’s stock valued at $186,516,000 after purchasing an additional 1,320,100 shares in the last quarter. USS Investment Management Ltd acquired a new stake in Rogers Communications in the 4th quarter valued at $130,443,000. Neuberger Berman Group LLC increased its holdings in Rogers Communications by 25.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 583,737 shares of the Wireless communications provider’s stock valued at $30,086,000 after purchasing an additional 119,535 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in Rogers Communications by 26.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,380 shares of the Wireless communications provider’s stock valued at $535,000 after purchasing an additional 2,178 shares in the last quarter. Hedge funds and other 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.