Zacks Investment Research Upgrades Rogers Communications (RCI) to “Hold”

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

According to Zacks, “Rogers Communications posted mixed fourth-quarter 2017 financial results. The company’s 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 14.3% beating the industry's gain of 7.2%. The company has maintained its position as the largest integrated-telecom operator in Canada. On the other hand, the company’s operation in an intensely competitive wireless and cable TV industry remains a concern. The company’s media segment continues to remain affected by continued softness in the advertising market. Rogers lost 13,000 video subscribers in the reported quarter, due to cord-cutting.”

A number of other research analysts have also recently commented on the company. Barclays restated a “hold” rating and issued a $55.00 target price on shares of Rogers Communications in a research note on Friday. National Bank Financial cut Rogers Communications from an “outperform” rating to a “sector perform” rating in a research note on Friday. Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Bank of America initiated coverage on Rogers Communications in a research report on Tuesday, November 21st. They set a “buy” rating for the company. Finally, Morgan Stanley raised their price objective on Rogers Communications from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Rogers Communications has a consensus rating of “Buy” and an average price target of $62.75.

Rogers Communications (RCI) traded down $1.09 on Monday, hitting $48.25. The stock had a trading volume of 342,753 shares, compared to its average volume of 340,832. The stock has a market cap of $25,400.72, a PE ratio of 18.91, a PEG ratio of 3.17 and a beta of 0.92. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 2.00. Rogers Communications has a 52 week low of $41.33 and a 52 week high of $54.95.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 25th. The Wireless communications provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Rogers Communications had a return on equity of 30.65% and a net margin of 12.09%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. sell-side analysts predict that Rogers Communications will post 3.11 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. OxFORD Asset Management LLP increased its holdings in shares of Rogers Communications by 11.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 8,138 shares of the Wireless communications provider’s stock worth $384,000 after purchasing an additional 857 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Rogers Communications by 8.3% in the 2nd quarter. Advisory Services Network LLC now owns 12,221 shares of the Wireless communications provider’s stock worth $577,000 after purchasing an additional 935 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Rogers Communications by 11.1% in the 2nd quarter. Voya Investment Management LLC now owns 13,174 shares of the Wireless communications provider’s stock worth $621,000 after purchasing an additional 1,318 shares in the last quarter. Baskin Financial Services Inc. increased its holdings in shares of Rogers Communications by 0.4% in the 3rd quarter. Baskin Financial Services Inc. now owns 318,239 shares of the Wireless communications provider’s stock worth $16,366,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Bollard Group LLC increased its holdings in shares of Rogers Communications by 3.6% in the 4th quarter. Bollard Group LLC now owns 49,752 shares of the Wireless communications provider’s stock worth $2,534,000 after purchasing an additional 1,742 shares in the last quarter. 47.27% of the stock is owned by institutional investors and hedge funds.

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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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