StockNews.com Downgrades Rogers Communications (NYSE:RCI) to Sell

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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

Rogers Communications Price Performance

RCI opened at $37.81 on Friday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72. The company has a market capitalization of $20.04 billion, a price-to-earnings ratio of 47.26, a P/E/G ratio of 1.01 and a beta of 0.68. The firm’s fifty day moving average price is $38.94 and its two-hundred day moving average price is $42.90. Rogers Communications has a 1 year low of $36.55 and a 1 year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted 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 firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. As a group, analysts anticipate that Rogers Communications will post 3.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gold Investment Management Ltd. increased its position in shares of Rogers Communications by 1.3% during the first quarter. Gold Investment Management Ltd. now owns 21,085 shares of the Wireless communications provider’s stock valued at $864,000 after buying an additional 270 shares during the period. Gulf International Bank UK Ltd grew its holdings in shares of Rogers Communications by 13.4% during the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock worth $111,000 after purchasing an additional 322 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Rogers Communications by 1.8% during the fourth quarter. Assetmark Inc. now owns 18,891 shares of the Wireless communications provider’s stock worth $884,000 after purchasing an additional 331 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Rogers Communications by 120.1% during the fourth quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 359 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Rogers Communications by 120.8% during the fourth quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 499 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

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 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.