Rogers Communications (NYSE:RCI) Upgraded to “Hold” at StockNews.com

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

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

Rogers Communications Stock Performance

NYSE RCI traded up $0.67 on Thursday, reaching $37.03. 963,356 shares of the company’s stock traded hands, compared to its average volume of 717,161. The firm has a market cap of $19.63 billion, a price-to-earnings ratio of 46.29, a P/E/G ratio of 0.99 and a beta of 0.68. The stock has a 50 day moving average price of $38.44 and a 200-day moving average price of $41.88. Rogers Communications has a fifty-two week low of $35.55 and a fifty-two week high of $48.19. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.72 and a current ratio of 0.77.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $3.64 billion during 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%. Equities research analysts predict that Rogers Communications will post 3.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RCI. FIL Ltd grew its stake in Rogers Communications by 13.7% during the 4th quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock valued at $1,709,377,000 after acquiring an additional 4,405,888 shares in the last quarter. Canoe Financial LP lifted its holdings in Rogers Communications by 1,575.9% during the 4th quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider’s stock worth $744,432,000 after buying an additional 14,954,351 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Rogers Communications by 10.2% during 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 buying an additional 1,177,264 shares in the last quarter. TD Asset Management Inc lifted its holdings 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 buying an additional 463,368 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings 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 worth $441,843,000 after buying an additional 285,730 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

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.