Scotiabank Downgrades Rogers Communications (RCI) to Sector Perform

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by equities researchers at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a report issued on Monday, MarketBeat.com reports.

RCI has been the topic of several other research reports. Zacks Investment Research raised shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Monday, January 28th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Rogers Communications in a research report on Tuesday, April 9th. ValuEngine lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. National Bank Financial raised shares of Rogers Communications from a “sector perform market weight” rating to an “outperform” rating in a research report on Thursday, January 3rd. Finally, Canaccord Genuity lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.68.

Rogers Communications stock opened at $48.93 on Monday. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 2.93 and a beta of 0.71. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.65 and a current ratio of 0.72. Rogers Communications has a 52 week low of $46.09 and a 52 week high of $55.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Rogers Communications had a net margin of 13.47% and a return on equity of 27.52%. Rogers Communications’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. As a group, research analysts forecast that Rogers Communications will post 3.51 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Gulf International Bank UK Ltd grew its stake in shares of Rogers Communications by 3.7% in the first quarter. Gulf International Bank UK Ltd now owns 7,057 shares of the Wireless communications provider’s stock worth $379,000 after acquiring an additional 250 shares during the last quarter. Addenda Capital Inc. grew its stake in shares of Rogers Communications by 41.7% in the first quarter. Addenda Capital Inc. now owns 612,585 shares of the Wireless communications provider’s stock worth $33,191,000 after acquiring an additional 180,388 shares during the last quarter. USS Investment Management Ltd grew its stake in shares of Rogers Communications by 0.6% in the first quarter. USS Investment Management Ltd now owns 2,809,627 shares of the Wireless communications provider’s stock worth $151,154,000 after acquiring an additional 17,545 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Rogers Communications in the fourth quarter worth $254,000. Finally, Norges Bank acquired a new stake in shares of Rogers Communications in the fourth quarter worth $88,666,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Analyst Recommendations for Rogers Communications (NYSE:RCI)

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