Rogers Communications (NYSE:RCI) Lowered to “Sector Perform” Rating by Scotiabank

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by stock analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued on Tuesday, MarketBeat.com reports.

RCI has been the topic of a number of other research reports. Morgan Stanley initiated coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.75.

Rogers Communications Stock Performance

Shares of RCI opened at $25.27 on Tuesday. The firm has a market cap of $13.55 billion, a P/E ratio of 10.89, a PEG ratio of 1.43 and a beta of 0.67. Rogers Communications has a twelve month low of $24.76 and a twelve month high of $41.84. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The firm’s 50 day moving average price is $27.82 and its two-hundred day moving average price is $32.58.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. On average, analysts forecast that Rogers Communications will post 3.57 EPS for the current fiscal year.

Institutional Trading of Rogers Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in Rogers Communications by 106.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock valued at $5,383,000 after acquiring an additional 68,971 shares during the period. FMR LLC lifted its stake in shares of Rogers Communications by 2.8% during the 3rd quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider’s stock worth $100,372,000 after buying an additional 68,759 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Rogers Communications by 107.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 37,436 shares of the Wireless communications provider’s stock worth $1,505,000 after buying an additional 19,378 shares during the period. PEAK6 Investments LLC acquired a new position in Rogers Communications in the 3rd quarter valued at about $305,000. Finally, Verition Fund Management LLC lifted its position in Rogers Communications by 7.9% during the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock worth $301,000 after acquiring an additional 551 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

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.