Rogers Communication (NYSE:RCI) Cut to Sell at Wall Street Zen

Rogers Communication (NYSE:RCI) (TSE:RCI.B) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other equities research analysts also recently issued research reports about the company. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Weiss Ratings cut shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Raymond James Financial assumed coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Barclays decreased their target price on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Finally, Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Price Performance

NYSE RCI opened at $32.76 on Friday. The company has a market cap of $17.70 billion, a PE ratio of 3.96, a P/E/G ratio of 4.07 and a beta of 0.64. The firm’s 50 day moving average price is $35.59 and its 200-day moving average price is $36.57. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.53 and a current ratio of 0.55. Rogers Communication has a 52-week low of $31.38 and a 52-week high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.91 billion. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.Rogers Communication’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. Sell-side analysts forecast that Rogers Communication will post 3.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Rogers Communication

Hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC acquired a new stake in Rogers Communication in the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC grew its position in Rogers Communication by 107.4% during the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 407 shares during the last quarter. Headlands Technologies LLC increased its stake in Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock valued at $49,000 after purchasing an additional 978 shares in the last quarter. Advisory Services Network LLC acquired a new position in Rogers Communication during the 3rd quarter valued at approximately $63,000. Finally, Danske Bank A S purchased a new position in shares of Rogers Communication in the third quarter worth $64,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.