Rogers Communication (NYSE:RCI) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Rogers Communication (NYSE:RCI) (TSE:RCI.B) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other equities analysts have also recently weighed in on the stock. Raymond James Financial started coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Barclays reduced their target price on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Finally, TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.00.

Rogers Communication Stock Up 0.1%

RCI stock opened at $36.44 on Friday. The firm’s fifty day moving average is $34.80 and its 200 day moving average is $36.38. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55. Rogers Communication has a one year low of $31.38 and a one year high of $41.14. The firm has a market cap of $19.68 billion, a PE ratio of 4.40, a P/E/G ratio of 4.54 and a beta of 0.64.

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

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, September 8th. Rogers Communication’s payout ratio is 17.51%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its position in shares of Rogers Communication by 10.2% during the 1st quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock worth $130,000 after purchasing an additional 312 shares during the period. Van ECK Associates Corp lifted its position in shares of Rogers Communication by 6.0% during the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock worth $203,000 after purchasing an additional 334 shares in the last quarter. Monarch Capital Management Inc. lifted its position in shares of Rogers Communication by 0.6% during the first quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock worth $2,299,000 after purchasing an additional 360 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Rogers Communication by 107.4% in the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 407 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Rogers Communication by 15.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider’s stock worth $119,000 after acquiring an additional 418 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

About Rogers Communication

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.