Rogers Communication (NYSE:RCI) Stock Rating Upgraded by Wall Street Zen

Rogers Communication (NYSE:RCI) (TSE:RCI.B) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the stock. Desjardins downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Barclays lifted their price objective on Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Rogers Communication in a research note on Friday, December 26th. Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Rogers Communication in a report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Trading Up 0.5%

Shares of NYSE:RCI opened at $37.93 on Friday. The stock has a market capitalization of $20.49 billion, a PE ratio of 4.21, a P/E/G ratio of 3.55 and a beta of 0.75. Rogers Communication has a 1 year low of $23.18 and a 1 year high of $40.26. The firm has a fifty day moving average price of $37.86 and a 200 day moving average price of $35.59. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $5.33 billion. Rogers Communication had a return on equity of 17.14% and a net margin of 32.49%.The business’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.42 earnings per share. Analysts expect that Rogers Communication will post 3.57 EPS for the current fiscal year.

Institutional Trading of Rogers Communication

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its stake in shares of Rogers Communication by 112.3% in the first quarter. Northern Trust Corp now owns 335,459 shares of the Wireless communications provider’s stock valued at $8,967,000 after purchasing an additional 177,457 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Rogers Communication by 48.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider’s stock valued at $113,000 after buying an additional 1,389 shares during the period. Amundi raised its stake in shares of Rogers Communication by 7.4% in the 1st quarter. Amundi now owns 625,767 shares of the Wireless communications provider’s stock valued at $16,314,000 after buying an additional 42,976 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Rogers Communication by 40.6% during the 1st quarter. Millennium Management LLC now owns 1,073,487 shares of the Wireless communications provider’s stock worth $28,696,000 after acquiring an additional 309,753 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its position in shares of Rogers Communication by 194.1% during the 1st quarter. Polar Asset Management Partners Inc. now owns 125,000 shares of the Wireless communications provider’s stock valued at $3,342,000 after acquiring an additional 82,500 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

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.