Rogers Communications (NYSE:RCI) Rating Increased to Hold at StockNews.com

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Barclays reduced their price objective on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.00.

Rogers Communications Price Performance

NYSE RCI opened at $39.01 on Wednesday. The company has a 50-day moving average price of $39.55 and a two-hundred day moving average price of $43.21. Rogers Communications has a 52 week low of $36.55 and a 52 week high of $48.19. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 1.04 and a beta of 0.63. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. Analysts forecast that Rogers Communications will post 3.64 EPS for the current year.

Institutional Investors Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FIL Ltd boosted its stake in Rogers Communications by 13.7% in the 4th quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock worth $1,709,377,000 after purchasing an additional 4,405,888 shares during the period. Canoe Financial LP raised its position in Rogers Communications by 1,575.9% during the fourth quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider’s stock valued at $744,432,000 after buying an additional 14,954,351 shares during the period. 1832 Asset Management L.P. lifted its stake in Rogers Communications by 10.2% in the 4th quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock worth $594,848,000 after acquiring an additional 1,177,264 shares in the last quarter. TD Asset Management Inc boosted its position in Rogers Communications by 4.2% during the 1st quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider’s stock worth $473,204,000 after acquiring an additional 463,368 shares during the period. Finally, Mackenzie Financial Corp grew its stake in Rogers Communications by 3.1% during the 4th quarter. Mackenzie Financial Corp now owns 9,433,774 shares of the Wireless communications provider’s stock valued at $441,843,000 after acquiring an additional 285,730 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.