Rogers Communications (RCI) Stock Rating Lowered by TD Securities

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by equities research analysts at TD Securities to a “buy” rating in a report issued on Wednesday, The Fly reports.

Other research analysts also recently issued research reports about the stock. Echelon Wealth Partners reissued a “buy” rating on shares of Rogers Communications in a research note on Friday, January 25th. Desjardins lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. ValuEngine raised Rogers Communications from a “hold” rating to a “buy” rating in a research report on Monday. Canaccord Genuity lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Finally, Zacks Investment Research lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $54.43.

NYSE:RCI opened at $54.95 on Wednesday. The firm has a market cap of $28.08 billion, a PE ratio of 16.40, a PEG ratio of 3.08 and a beta of 0.65. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.72 and a quick ratio of 0.65. Rogers Communications has a 52-week low of $43.11 and a 52-week high of $55.21.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, January 24th. The Wireless communications provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.32. Rogers Communications had a return on equity of 29.05% and a net margin of 13.63%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, analysts expect that Rogers Communications will post 3.54 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Rogers Communications by 2.7% in the third quarter. Vanguard Group Inc. now owns 9,184,653 shares of the Wireless communications provider’s stock worth $472,183,000 after purchasing an additional 237,435 shares in the last quarter. Vanguard Group Inc grew its stake in Rogers Communications by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 9,184,653 shares of the Wireless communications provider’s stock valued at $472,183,000 after buying an additional 237,435 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Rogers Communications by 7.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,995,893 shares of the Wireless communications provider’s stock valued at $308,564,000 after buying an additional 417,187 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Rogers Communications in the 3rd quarter valued at approximately $229,495,000. Finally, Toronto Dominion Bank grew its stake in Rogers Communications by 22.5% in the 3rd quarter. Toronto Dominion Bank now owns 4,291,153 shares of the Wireless communications provider’s stock valued at $221,016,000 after buying an additional 787,068 shares in the last quarter. 44.59% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

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